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$95M Apartment Complex Under Way in Mission Bay

SAN FRANCISCO-Urban Housing Group and AIG Global Real Estate are developing 192-unit apartment development with 10,000 sf of street-level retail.

By Brian K. Miller | Updated on April 24, 2007

(Read more on the multifamily market.)

SAN FRANCISCO-A $95-million mixed-use development got started last week on 1.5 acres near the University of California in the Mission Bay neighborhood. The project, 555 Mission Rock, is a 192-unit apartment development with 10,000 sf of street-level retail located south of the channel, an untested area for market-rate apartments.

The developer is a joint venture of AIG Global Real Estate and Urban Housing Group, a multifamily development subsidiary of Marcus & Millichap Co. A source with Urban Housing Group tells GlobeSt.com that the $95-million figure represents to project’s total development cost.

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