SAN FRANCISCO-Two developers are joining forces to build a 340-unit apartment complex at Third and Fulsom, near San Francisco’s hotter-than-hot South of Market neighborhoods.

The $60-million development will consist of two towers; one 20-stories, the other 26. The project is being co-developed by Atlantic and Pacific Cos., based out of Los Angeles, and Sapphire Properties out of Dallas. Originally scheduled to get the green light from the San Francisco Planning Department on Oct. 5, the project has been pushed back a few weeks. The latest word is that everything should be in place by Oct. 19. Ground-breaking is expected in January 2001.

Not far from the newly opened Pacific Bell Park, the location at 301 Fulsom St. is well positioned to take advantage of much of what the city has to offer. The location is close to mass transit, and conveniently located near the Downtown Financial District and the dot-com heavy South Park.

Heller Manus Architects have been chosen to design the new complex. Their work can be seen throughout San Francisco, including recent renovations at City Hall, and several high- and mid-rise residential and office buildings.

When the apartment towers are finished, residents won’t be the only new kids on the block. Several other firms including Tishman Speyer Properties and Union Property Capital also are planning developments in the vicinity.

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