Inside the sleek, high-tech rental office for NEMA, San Francisco's biggest new apartment building, leasing agent Kelly Lombardi showed a prospective renter 3-D renderings that included four linked glass-and-metal towers, an expansive fitness center, a skylit club room, landscaped terraces and an open-floor-plan apartment.

"It has an industrial, modern vibe and is virtually indestructible," Lombardi said, referencing the burnished concrete floors. She invited Bonnie Dong, the prospective renter, to feel swatches of wallpaper, fabric, tile and wood that will adorn the units.

Outside, jackhammers clamored and hard-hat-clad workers hauled materials around the active construction site at 10th and Market streets in the revitalized Mid-Market district. Twitter's new headquarters could be seen across the street; Square's upcoming headquarters is next door.

In yet another indication of how brutal the San Francisco apartment market is, NEMA has already signed up almost 100 tenants - even though its first building won't open until October. With vacancy rates super tight, it's becoming common in the city for people to sign leases at new buildings without so much as touring a model unit.

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