Historic Honor

Presidio Trust Recognized

By Leah Etling on Mar 7, 2014 in News

Yardi client The Presidio Trust has been honored with an award from the National Trust/Advisory Council for Historic Preservation.

The Presidio Landmark Apartments, a 154-unit complex, were developed by converting a former hospital on the historic San Francisco military base into multifamily living. The process involved a public-private partnership that not only preserved the historic character of the existing property but created a new sustainable community to help address San Francisco’s dire need for housing.

The $71 million, 220,000 square foot renovation project was completed in 2010, according to a report in Multi-Family News. The Presidio Trust worked with Forest City Enterprises and Perkins+Will architects to design and execute the work.

According to the Presidio Landmark website, “Nowhere else in San Francisco will you find an historic building that’s been thoughtfully and sustainably renovated, with modern comforts, conveniences and pampering services — all within a National Park.”

Preserved features from the original hospital property include sun porches, marble hallways, doors and windows, and the brick exterior. Construction work was completed to LEED Gold certification. Perched along the edge of the Pacific at the mouth of the San Francisco Bay, the Presidio was once home to thousands of military personnel. Other reuses of buildings on the property include conversion of an officer’s quarters to create a boutique hotel.

The Presidio Trust uses Yardi Voyager to manage its commercial and residential leases. There are 3,000 residents and 200 leaseholders within the Presidio, which became financially self-sufficient under its unique management set-up in 2013. The U.S. Army turned the property over to the National Park Service in 1994, and the Trust was established to achieve revenue growth and financial stability in 1996.

“We pride ourselves on the careful management of the park’s finances. Implementing Voyager to capture our real estate assets as well as our income and accounting in an integrated system will improve service to our tenants and residents and allow us to better oversee the Presidio,” said Carla Armstrong, deputy chief financial officer for the Presidio Trust, in a 2013 statement.