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SAN DIEGO-A $34-million, 396-unit multifamily project is set to rise in San Diego, as API Mission North LLC is gearing up to begin construction on its Fenton North apartment property.

Scheduled for completion in September 2004, Fenton North is rising on a parcel located off of Friars Road across from Costco and Ikea. Design plans call for a three-story, garden-style complex complete with a full array of amenities. The gated community is slated to house a clubhouse, fitness center, pool, spa and fountains. In addition, selected units will include fireplaces, as well as washers and dryers.

Architects of Orange County, San Diego-based Project Design Consultants and Gillespie Design Group of La Jolla designed the Fenton North complex. San Diego-based Wermers Corp. is building the project, along with subcontractors John Del Construction of Santee, Chula Vista-based Modesto Construction and RH General of Spring Valley.

Multifamily developers continue to vie over San Diego’s remaining buildable lots, as the region still boasts one of the hottest apartment markets in the nation. According to a Burnham Real Estate Services report, 265 apartment properties involving 2,878 units traded hands here during the first quarter of this year.

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