Essex begins construction on $250 million residential projects in California
US-based Essex Property Trust Inc. has begun construction on two residential scheme on two co-located land parcels in downtown San Francisco, California, which will together involve an investment of $250 million.
The company has purchased two adjacent land parcels near Moscone Center in the SOMA district of San Francisco. It plans to build two multi-family communities consisting of nine-storey apartment blocks, which will together offer 463 apartment homes and about 9,300 square feet of retail space.
Amenities for the residents of both the properties consist of an urban park, rooftop decks, clubhouse with chef's kitchen, movie theater, fitness center and spa. Additionally, the residents will also benefit from the development's proximity to the shopping and entertainment places and centers of public transportation.
The construction on the project is expected to be completed by early 2014.
