$40 million apartment complex being built on upper State Street
Construction on a $40 million apartment development has begun on upper State Street, according to Los Angeles-based real estate investment company The Kor Group.
The 89-unit complex at 3885 State St. will include one-, two- and three-bedroom residences ranging from 613 to 990 square feet.
The Marc will feature onsite retail on the ground floor of the four-story building. It will feature in-home washer and dryers and private patios with balconies. Amenities include a pool, spa and sundeck, a community garden, resident lounge, three courtyards, a fire pit, bocce ball and horseshoe courts, community garden beds and a fitness center.
LA-based developer REthink Development is incorporating CALGreen building standards into the construction and The Kor Group is partnering with certain affiliates of Westport Capital Partners to finance the project.
Pre-leasing begins in May and construction is expected to finish in September.
• Contact Alex Kacik at akacik@pacbiztimes.com.
