According to Hoodline, what appeared to be a new seven-story residence sprouting at 2100 Market is actually intended to be a hotel-like venture care of Sonder, a startup that offers Airbnb-like stays.
The San Francisco-based company’s business model maneuvers around the city’s short-term rental regulations by requiring 30-night minimum stays.
According to Sonder, its aim is to place short-term rentals in neighborhoods where people call home: “We take a curated approach to location that’s built around putting Sonders in the best neighborhoods where people actually live, and where we ourselves want to spend time.”
Sonder rentals (“Sonders” as the company brands them) come customized with “art and furniture to reflect the cultural vibe of the city” and apartment-style amenities with kitchens and living rooms.
Guests will check in using a smartphone in lieu of concierge and front desk. The newest Sonder will include 52 furnished apartment rentals, with eight below market rate (BMR) units leased through the Mayor’s Office of Housing.
As SFist notes, “Critics will of course carp that providing 30-day rentals is not doing anything to help the city’s ongoing housing crisis, it is merely catering to high-paying tourists and transient tech workers who might otherwise find a corporate rental elsewhere.”
Company founder, Francis Davidson, 26, told Forbes in July, “My hope is that we’re going to be able to build an iconic consumer brand within hospitality.”
The startup recently received Series B funding to the tune of $225 million, which raised its valuation to $1.1 billion.
Sonder rentals can be found on Airbnb, Booking, and Expedia. The company has properties in SF locales like Mission Bay, the East Cut, and the Marina, with buildings in other cities like New York City, San Diego, Boston, and Rome.
Update: A company spokesperson tells Curbed, “This is not a short-term rental but a boutique living service. The leases at this location will average in length from 6 months to a year.”