RESMARK, COLRICH TO DEVELOP TWO SAN DIEGO APT COMMUNITIES

San Diego — Resmark Apartment Living and ColRich have formed a joint venture to develop two apartment communities totaling 427 units in south San Diego County. Resmark Apartment Living is a division of the Resmark Companies. The 19.6-acre development site is located is located in the master-planned community of Eastlake, which his adjacent to the U.S. Olympic Training Center in Chula Vista. The 9.5-acre western portion of the property will contain 209 residences, including 170 three-story townhomes and 39 triplexes. The 10.1-acre eastern part of the site will contain 218 residences, 158 of which will be townhomes and 60 that will be triplexes. The development began construction in January. It is scheduled for completion in October 2013. The communities will be managed by Lincoln Property Company.