The proposal would transform an outdated 84-acre office park in Northern California’s Bay Area into a campus with new office and lab space and a hotel.
HOK has designed the project. PGIM, the asset management arm of insurance company Prudential Financial, is helping to finance it.
Excerpted from the San Francisco Business Times:
After years of planning, Longfellow Real Estate Partners formally proposed a 3.3 million-square-foot life sciences campus in Redwood City.
The privately held developer Tuesday submitted a planning application for the project, which seeks to transform an outdated 84-acre office park on the edge of Redwood Shores into new office, lab space and a 104-room hotel.
The proposal—which will involve seven phases—also includes a 46,000-square-foot amenity center, of which 1,400 square feet will be set aside as community-serving space, and more than 47 acres of green spaces and trails, including four new parks. The developer said in a statement on Tuesday that the project—dubbed “Redwood LIFE: Evolve”—will reduce 97% of surface parking and increase open space by 163%. A total of 20 buildings currently located on the development site will be leveled and replaced by 16 new ones.
“Longfellow fundamentally believes in making long-term investments in our communities, which is exactly why we have been working with community stakeholders and neighbors for nearly two years to inform this proposal,” said Peter Fritz, Longfellow’s senior director of development. “The resulting project application proposes a campus that will attract world-class life science companies while bringing extensive community and economic benefits to the region.”