You might not need a surfboard storage room, or even have a surfboard, but a new Mission Valley apartment complex has just about every amenity you can think of.

The Society, San Diego’s largest new apartment project — and one of its most expensive — just completed its 240-room third tower and has started work on a fourth, due to open in April. It has rents averaging $3,700 a month and features some of the highest number of amenities ever seen in a regional project, including an “influencer station” for selfies, a surfboard room and an electric fireplace in the mailroom.

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The $487 million project will have 840 apartments, the most of any San Diego County apartment complex in seven years, at final buildout. Developer Holland Partner Group said it is having no trouble getting renters at the project, despite charging higher rent than much of the area.

Ryan Trainor, senior regional property manager for Holland, said the majority of renters are 25 to 40 years old and are fans of the vast amenities. He said many are drawn to the building as their first place after moving to San Diego.

“They see this as a great opportunity,” Trainor said.

The Society’s buildout comes at a good time for the developer as the number of available apartments in San Diego County hits its lowest level in years. The countywide vacancy rate is 2.6 percent, said real estate firm CoStar. That’s one of the lowest rates in the last 20 years, and it’s been dropping every quarter since the end of 2019 when it was 5.22 percent.

With limited options and a countywide average rent of $2,306 a month, the sticker shock at The Society seems like more of a sign of the times.

Average rent at The Society for a studio is $2,252 a month, said CoStar. Average rent goes up from there: It’s $3,305 for a one-bedroom, $4,157 for a two-bedroom and $5,059 for a three-bedroom.

Amenities are broad and might help a renter avoid having to get a gym membership, among other things. There is a pet spa, a 3,257-square-foot gym (and smaller ones in the other buildings), yoga rooms, bike storage room, pool and a hot tub, lounge areas, barbecues, electric vehicle charging stations, co-working space and conference rooms, coffee stations and — almost like a fancy hotel — concierge services.

Adding to the ambiance is a green moss and bamboo fragrance — described as a “green leafy smell” with a hint of lime and cucumber — that permeates every building. Holland said the idea is the smell will create a continuity between the four separate buildings.

The newly completed building, called Margo, features a 1,845-square-foot club room with a large magnetic Scrabble board, kitchen, air hockey table, jukebox and an “influencer station,” where a renter could put their phone in a ringed light stand for the perfect Instagram photo.

Residents at The Society will have to pay for parking, but it is cheaper than most downtown projects. It costs $25 for a single spot and $100 for a tandem spot for two cars. This is becoming more common across the city as officials have pressed developers to de-couple parking costs in order to benefit renters who elect to go car-free.

With vacancy rates so low, it might seem that so many amenities are unnecessary, but that’s not the case, said J. Kevin Mulhern, senior vice president at real estate firm CBRE in San Diego. He said the cost to make up for ever-increasing construction and land acquisition costs needs to be covered by high rents — and one way you do that is by enticing renters with extensive amenities.

“Amenities are your draw,” he said. “That’s how you get residents in the front door. “

He said amenities are similar to gym memberships, where people sign up but never go. If people aren’t using the selfie station, for example, there’s some thinking that it might be more cost-effective to search for another place. Rental website ApartmentAdvisor released a study in late 2021, using more than 250,000 apartment listings, that said many features drive up rents: On-site gyms add 10 percent, 8 percent for a washer-dryer and 8 percent for a pool.

Mulhern said another big reason for developers to go all-in on amenities: A lot of people are still working from home. That means many residents will be spending a significant amount of time at the property, as opposed to a few years ago when most apartment complexes cleared out in the morning.

“Residents need more amenities and distractions because they are spending way more time at home,” he said.

Vancouver, Wash.-based Holland Partner Group bought the 10-acre site from the owners of the Town & Country Resort for $82 million in 2018. It came at the same time as the more than 60-year-old hotel and conference center was preparing its own $70 million makeover.

As surprising as The Society’s rents are, the complex is not the most expensive in San Diego County. That distinction belongs to La Jolla’s Ocean House on Prospect. The 53-unit complex has an average rent of $6,678 a month. It is also a short walk to the beach and features ocean views, something few San Diego County apartments have.

Holland Partner Group did not include any subsidized housing in The Society project. The company had to pay the city $9.8 million in fees for not including rent-restricted units. San Diego can use the funds to construct their own subsidized building, but housing officials often say they prefer a developer put affordable housing in their project because it is less expensive for the city.

Despite Holland calling The Society “San Diego’s largest multifamily community” in press releases, it isn’t. The biggest remains Casa Mira View in Mira Mesa with 1,848 units. Other big complexes are La Jolla Crossroads with 1,500 units, Costa Verde Village in University Village with 1,263 units and the Promenade Rio Vista in Mission Valley with 970 units.

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