The South City Planning Commission is supporting plans for a massive office and research and development campus at 131 Terminal Court, adding to the city’s pipeline of life science campus plans over the coming years.
In addition to the Infinite 131 project, the developer, SteelWave, is also spearheading several other projects throughout the city, including Discovery Station, situated on Spruce Avenue and El Camino Real, a 15-acre mixed-use project that will include an under-construction Safeway, as well as 184 residential units and a biotech campus. The city also approved the developer’s plans for another campus adjacent to the Infinite 131 development at 101 Terminal Court.
“While each of the projects has been designed to be standalone projects, the combined sites have also been designed to function as one overall campus,” Gross said.
The area is situated in the historically industrial area of Lindenville, however, the city has made plans to revitalize the area with more development, both commercial and residential over the coming years. The site of the 131 Terminal Court project currently houses Golden Gate Produce Terminal and a number of other industrial operations, including loading docks and trash compactor areas. Commissioner Aysha Pamukcu said she supported the project, but wanted to ensure adequate connectivity, especially given the size of both Terminal Court campuses.
“I think Lindenville in general is such an incredible opportunity,” Pamukcu said. “As we create these really incredible sites that people want to go to, I want to make sure it’s safe for all modes of transportation to get there.”
While there isn’t a shortage of proposals for office and lab space in the city, the office market, including for the life science industry, has been slow to recover. In the last month, the Planning Commission supported agreements with developers of two massive life science developments — one at 180 El Camino Real and another at 800 Dubuque Ave. — that would extend their city approvals, or entitlements, for 10 years, giving them more time to secure financing and build out the project.
In Belmont, three of its five major biotechnology projects have been withdrawn or indefinitely paused as of April. According to a CBRE market report, last quarter saw a 32% vacancy rate in life science buildings across the Bay Area — nearly four-fold the rate from 2022. The amount of lab space under construction in the region as of last quarter has also been significantly less than prior years.
With less funding from the National Institutes of Health and pharmaceutical tariffs, the report added, midsize life science firms are reassessing their real estate needs, which has also contributed to higher sublease activity.
The problem is particularly acute in South San Francisco, known as Northern California’s hub for biotechnology firms. According to a previous staff report, the city has issued one new building permit for a life science project in the last two years, and other projects that are already underway, such as Kilroy Realty’s Oyster Point and Southline, mean the anticipated supply is only contributing to higher vacancy rates.
The Planning Commission unanimously supported the project.
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