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EXHIBIT 99.1
Current Development Activity
The following table summarizes Archstone's development communities under
construction as of June 30, 2000 (dollar amounts in thousands):
<TABLE>
<CAPTION>
Actual or Expected
Total Expected Date for Stabilization
Number of Archstone Expected Start Date First Units Date %
Units Investment Investment/(1)/ (Quarter/Year) (Quarter/Year)/(2)/ (Quarter/Year) Leased/(3)/
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<S> <C> <C> <C> <C> <C> <C> <C>
Central Region:
Austin, Texas:
Archstone Monterey Ranch III.. 448 $ 25,977 $ 31,669 Q3/98 Q2/00 Q2/01 34.6%
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Denver, Colorado:
Cedars II, The........ 172 $ 13,690 $ 16,376 Q3/99 Q3/00 Q2/01 N/A
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Total Central Region...... 620 $ 39,667 $ 48,045
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East Region:
Charlotte, North Carolina:
Archstone Tyvola Centre...... 404 $ 18,095 $ 31,398 Q3/99 Q3/00 Q2/02 N/A
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Indianapolis, Indiana:
Archstone River Ridge........ 202 $ 16,037 $ 16,150 Q2/98 Q2/99 Q3/00 92.1%
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Richmond, Virginia:
Archstone Swift Creek I...... 288 $ 23,502 $ 23,674 Q2/98 Q3/99 Q3/00 78.1%
Archstone Swift Creek II..... 144 2,298 11,021 Q2/00 Q2/01 Q4/01 N/A
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Total Richmond, Virginia.. 432 $ 25,800 $ 34,695
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Southeast Florida:
Archstone at Woodbine........ 408 $ 24,893 $ 30,722 Q3/99 Q2/00 Q4/01 17.4%
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Washington, D.C.:
Archstone Columbia Town
Center I................ 531 $ 8,092 $ 65,141 Q2/00 Q4/01 Q2/03 N/A
Archstone Milestone II....... 132 9,583 13,615 Q4/99 Q3/00 Q1/01 N/A
Archstone Woodland Park...... 392 23,185 42,622 Q2/99 Q2/00 Q2/01 37.3%
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Total Washington, D.C....... 1,055 $ 40,860 $121,378
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Total East Region.......... 2,501 $125,685 $234,343
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West Region:
Phoenix, Arizona
Miralago II.................. 336 $ 7,972 $ 23,680 Q1/00 Q1/01 Q2/02 N/A
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Reno, Nevada:
Enclave II, The.............. 180 $ 14,837 $ 16,204 Q4/98 Q3/99 Q3/00 95.6%
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San Diego, California:
Archstone Mission
Valley............... 736 $ 51,698 $106,328 Q4/99 Q4/00 Q2/03 N/A
Archstone Torrey Hills....... 340 43,111 43,139 Q1/98 Q3/99 Q3/00 93.8%
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Total San Diego,
California........ 1,076 $ 94,809 $149,467
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San Francisco Bay Area,
California:
Archstone Hacienda........... 540 $ 76,072 $ 78,272 Q2/98 Q3/99 Q3/00 94.3%
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San Jose, California:
Archstone Willow Glen........ 412 $ 40,816 $ 69,581 Q3/99 Q4/00 Q1/02 N/A
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Seattle, Washington:
Archstone Northcreek......... 524 $ 41,486 $ 44,025 Q2/98 Q2/99 Q3/00 87.2%
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Total West Region....... 3,068 $275,992 $381,229
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Total Communities
Under Construction.... 6,189 $441,344 $663,617
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(1) Represents total budgeted land and development costs.
(2) Represents the quarter that the first completed units were made available
for leasing (or are expected to be made available). Archstone begins
leasing completed units prior to completion of the entire community.
(3) The percentage leased is based on leased units divided by total number of
units in the community (completed and under construction) as of June 30,
2000. An "n/a" indicates the communities where Lease-Up has not yet
commenced.
