Thursday, February 23, 2017

Chinese developer proposes 1,200 units at South San Francisco's $1B Oyster Point project

The Chinese developer behind one of the largest biotech projects in the Bay Area has proposed adding 1,191 residential units and 22,000 square feet of retail and amenity space to its prime 42-acre waterfront site in South San Francisco.

Greenland USA, which bought the site in August for $171 million, already has approvals for 2.25 million square feet of office and life sciences space at a project called the Landing at Oyster Point. But the company filed an application today to revise later phases of the project to include residential and retail uses.

“Due to the growing demand for housing in the region, we are exploring potential opportunities to include housing in later phases of the development and will be working closely with biotech, city and community to ensure this plan delivers on their vision for long-term growth,” said Taotao Song, CEO of Oyster Point Development LLC and executive vice president at Greenland USA, in a statement.

“We believe Oyster Point presents a number of opportunities to help meet the overall needs of the city and demands of the region. That’s why we’re studying the feasibility of an exciting mixed-use community to enhance the experience east of 101.”

Submitted by Victor Spano

1 comment:

Kathy Meeh (development happens elsewhere) said...

In the spirit of development and area revitalization, the Daily Journal/Austin Walsh, 2/23/17 article is also of interest: "Harbor District weighs Oyster Point development: Officials consider massive office, housing project proposed near marina." ".... ... we are excited to see that move forward and have the Harbor District play a role,” said McGrath, a top official with the district overseeing the adjacent site offering a 455-boat slip marina, yacht club, boutique hotel, 33-acre park and terminal for a commuter ferry."