Rendering of 1301 Shoreway development in Belmont.
The Belmont Planning Commission voted to recommend approval of a new massive life science development, aligning with the city’s goal to build up its commercial sector.
The 984,725-square-foot project will comprise two buildings and a parking garage, situated at 1301 Shoreway Road, southeast of Ralston Avenue and Highway 101, and close to Belmont Creek and the Bay Trail.
The developer, Four Corners Properties, plans to demolish the current office building at the site and build a seven- and eight-story life science development which could accommodate a Biosafety Level 3 laboratory, the second-highest risk tier for such buildings.
“It’s generally very high quality, and I think it’s in step with a lot of similar projects you see with this type of use,” Commissioner Cherry Twigg said.
The plans come in the midst of a slow-to-recover life science real estate market, which has seen stubbornly high vacancy rates as the industry slowly recovers. Just over the past year, other life science projects in Belmont were either withdrawn or paused, and in South City, two major biotech developments requested 10-year extensions to build out their projects given tough financing conditions.
The city still has some other life science projects in its pipeline, including a 65-foot building at 601 Harbor Blvd. and a three-building development – ranging from nine to 13 stories — on Island Parkway and Clipper Drive.
The Planning Commission unanimously supported the project, which will also go before the City Council for final approval.
“In our city, this is the perfect place for more intense commercial usage,” Commissioner Joanne Adamkewicz said. “I really hope that the market rebounds, and we’re able to get some employers there. I’d love to see a better balance between jobs and residents.”
(650) 344-5200 ext. 102
Daily Journal staff
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