From Earlier: Essex Purchases and Begins Construction on Two Communities in Downtown San Francisco

Essex Property Trust, Inc. ESS, announced on Friday the purchase of two adjacent land parcels in San Francisco, California for the development of two nine story apartment communities containing a total of 463 apartment homes and approximately 9,300 square feet of retail space. The two development communities are located near Moscone Center in the SOMA district of San Francisco. The Company expects the properties to open in the spring of 2014 for a total cost of approximately $250 million.