"This development will not only improve the look and feel of our greater Downtown area, but will encourage shopping and dining at our Downtown stores and restaurants and should serve as a catalyst for further revitalization along the gateway to downtown," says Linda Asbury, president of the San Mateo Area Chamber of Commerce.

The project, which is being developed by Redwood Shores, CA-based Prometheus, will create 218 apartment units with 22 below-market rate units on 3.6 acres of land along East Third and Fourth Avenues, along the main entry to the Downtown area.

This urban development will provide much-needed housing near Caltrain, Downtown and Peninsula employment centers. The community will consist of one, two and three-bedroom apartments and lofts. A swimming pool, fitness center and parking structure are included in the development.