Archstone, a company engaged in investment and operations of apartments, declared that it has purchased a development site measuring 3.15 acres in the Potrero Hill area in San Francisco.
The company is planning to construct a 467-unit building a comfortable apartment community over the tract of land situated at the bend of 16th and 7th streets besides Southern Embarcadero Freeway. The company anticipates commencing construction by 2012 August.
Archstone Van Ness Washington DC. Credit: Archstone
The proposed construction site is located close to a number of high-technology companies in the Showplace Square and South of Market localities. Moreover, the Mission Bay neighborhood, which remains close to the location anticipates generating thousands of employment opportunities due to the upcoming new developments such as global headquarters of salesforce.com and the Medical Center of University of California at San Francisco.
The San Francisco apartments located close to the Bay Area Rapid Transit station and CalTrain transport facilities will provide easy transportation facilities for the residents who work outside the San Francisco area. The public transportation system also provides easy reach to a range of major employment providing companies located in the East Bay and Silicon Valey.
The other important facilities located within a mile range from the development site include entertainment locations such as Bottom of the Hill, the San Francisco Design Center and the Axis Café. Also a number of local restaurants and boutique shops remain close to the property.
Source: http://www.archstoneapartments.com/