Avalon at Mission Bay is expected to incorporate 149 apartments in one 16-story high-rise tower, 91 garden-style flats in a series of three-story buildings, 10 loft-style apartments and about 7,800 sf of retail. Upon completion the project will total 250 apartment homes. The entire project is slated for completion during the first quarter of 2003. Initial occupancy is expected late next year. Costs to complete the project are estimated at $79.4 million.

Virginia-based AvalonBay Communities, Inc. owns or has ownership interest in 137 apartment communities in 12 states. Twelve of those apartment communities are under construction and four are under reconstruction. The company is in the business of developing, redeveloping, and acquiring and managing luxury apartment communities in hard to enter markets.

When fully built out, Mission Bay will included a 5 million sf corporate and technology campus and a 43-acre health sciences campus for the University of California at San Francisco. The plan also includes more than 6,000 residential units and up to 750,000 sf of retail space. Mission Bay will also incorporate more than 50 acres of open space and recreational areas.