In San Francisco, it would be a steal. In Sparks, it's a sign of the times.

At the new Waterfront at the Marina Apartments overlooking Sparks Marina, the flagship two-bedroom, two-bath apartment sports 9-foot ceilings, 1,340 square feet, walk-in closets, quartz countertops, a terrace with water and mountain views — and a rent of nearly $2,900 a month.

This floor plan, called the Cove, joins one-bedroom, one-bath models ranging from $1,399 to $1,960 per month, and two-bedroom, two-bath options ranging from $1,799 to $2,832 (the Cove, at $2,855, is the priciest unit).

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WATERFRONT AT THE MARINA APARTMENTS

Address: 375 Harbour Cove Drive, Sparks

Phone: 760-821-8453

On the web: Click here

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The rents being charged at Waterfront rank among the highest ever for apartments in the City of Sparks, according to Dian VanderWell, a Sparks resident, a Realtor with Stefani & Associates and a member of the Sparks Planning Commission.

"That's because of location, location, location," VanderWell said, noting the marina setting, the adjacent Marina Town Centre, the amenities at Waterfront (more on those in a moment), the proximity to Outlets at Legends, and the easy access to Interstate 80 and Tahoe Reno Industrial Center (home to Tesla's gigafactory) to the east.

"Sparks is the gateway to TRIC," VanderWell added. "When people are coming here, these apartments are what many of them are looking for."

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Wrapped up

The 209-unit Waterfront is a $60-million project from LandCap Investment Partners LLC and Guardian Capital, both real estate investment firms out of Southern California. Waterfront lies across Harbour Cove Drive from Marina Village, an older development approved by Sparks officials in 2006.

Among LandCap's other local properties are Marina Town Centre (home of an upcoming restaurant and bar from famed Lake Tahoe restaurateur Tom Turner), 3rd Street Flats in downtown Reno and the Resort at Tanamera in South Reno.

At Sparks Marina, the developers purchased a parking garage already on site, then wrapped the new apartment complex around the garage, giving residents access to their parking spaces from the same floor as their units.

Those units encompass seven floor plans that begin at about 700 square feet for the smallest one-bedroom and top out at about 1360 square feet for the largest two-bedroom.

The apartments are arranged to take best advantage of marina and mountain vistas, including a view of Mount Rose. A handful of ground-floor waterfront units share a private green.

Interior fixtures, finishes and appointments variously include ceiling fans, pendant lights, vinyl plank flooring, double vanities, gas ranges, kitchen islands, breakfast bars, and washer-dryers.

On the roof

Waterfront at the Marina released 88 units in its first phase of leasing. More units will be released this summer. Lease terms are for six, 12 or 15 months. Rents include one parking space; trash is $15 per month; water and sewage are based on use.

To date, about half the apartments in phase one have been leased. Tenants began moving in April 1, greeted by the kinds of amenities (either completed or nearly so) that have become standard at upscale apartment developments.

"They are one of our biggest selling points," said Heather Floyd, community director of Waterfront.

These amenities, all of which will be online by summer, Floyd said, include a wired clubhouse, demonstration kitchen (hosting chefs from the upcoming Sparks Water Bar next door), fitness center, year-round outdoor pool and spa, yoga and Pilates classes, dog spa, and a 2,000-square-foot roof deck with a bar.

Downward dog and pooch pampering aren't the only things being deployed to attract residents. New tenants, leasing officials said, would receive half-off their first month's rent, plus a smart home gadget (choices include an Apple TV or Amazon Fire TV Cube).

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Tenant mix

About half the apartments leased so far, Floyd said, would be used as primary residences and half as secondary residences (either for business or leisure visits).

So far, the tenants have been a mix of young professionals without children and folks in their 40s and 50s.

"From our experience with other communities, 3rd Street Flats and Square One (on C Street in Sparks), this is exactly what we expected for Waterfront," said Stephen Hinckley, managing partner and CEO of LandCap, the owner-operator of Waterfront.

LandCap, Hinckley added, is planning two new apartment developments in Northern Nevada and has "plans for a community to address the 'missing middle' " of the market.

LandCap has acquired 12 properties in Northern Nevada since 2011 and 10 in California since 2008.

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Johnathan L. Wright is the food and drink editor of RGJ Media, part of the USA Today Network. Join @RGJTaste on Twitter, Facebook and Instagram.