New office project latest boost for Mission Bay redevelopment

The construction of a new six-story office building along Terry Francois Boulevard is the latest addition to the Mission Bay redevelopment plan that is dramatically transforming the former site of rail yards.

Lowe Enterprises Investors, a Los Angeles-based real estate firm, announced Friday it has acquired for an undisclosed price the waterfront property next to the new Old Navy headquarters.

The firm said it acquired the property to builda six-story, 300,000-square-foot office building, which is expected to open by early 2008. It will include about 9,000 square feet of ground-floor retail space.

The San Francisco Redevelopment Agency is charged with redeveloping the 303-acre Mission Bay area. The six-story building is part of a larger vision that includes construction of 6,000 housing units, 6 million square feet of office and biotechnology space and 750,000 square feet of retail. It also includes a 43-acre University of California at San Francisco research campus. It’s estimated that the development will create 31,000 new jobs.

Amy Neches, the agency’s project manager for Mission Bay, said the Lowe Enterprises project is a sign that the market for office space has recovered and similar developments are likely to follow.

There has been more movement with housing developments. About 1,500 residential housing units have been built since the redevelopment plan went into place in 1998, and there are another 1,004 under construction, according to Neches.

“Mission Bay has turned a corner and is poised to be a significant factor in San Francisco’s growing economy,” said Andy Segal, senior vice president of the Lowe Enterprises Real Estate Group. “With the new UCSF Life Science campus, the arrival of Muni [Third Street light rail] just three blocks away, and new housing and services, Mission Bay is quickly becoming a location of choice in San Francisco.”

Neches said Mission Bay will be transformed into “a neighborhood in The City with its own character.”

“[Mission Bay] is going to be this whole mixed-use, high-density urban infill community that will contribute a lot of jobs and a lot of housing for The City,” she said.

jsabatini@examiner.combusinessLocalScience & TechnologyScience and Technology

Just Posted

California Highway Patrol officers watch as Caltrans workers remove barricades from homeless camp sites as residents are forced to relocate from a parking lot underneath Interstate 80 on Monday, May 17, 2021. (Kevin N. Hume/S.F. Examiner)
San Francisco’s broken promise to resolve homeless encampments

‘There is an idea that The City is leading with services, and they are not’

The Department of Building Inspection, at 49 South Van Ness Ave., has been mired in scandal since since its creation by voter referendum under Proposition G in 1994. (Courtesy SF.gov)
The Department of Building Inspection, at 49 South Van Ness Ave., has been mired in scandal since its creation by voter referendum under Proposition G in 1994. (Courtesy SF.gov)
Whistleblowing hasn’t worked at San Francisco’s Department of Building Inspection

DBI inspectors say their boss kept them off connected builders’ projects

FILE — Mort Sahl on Nov. 10, 1967. Sahl, who confronted Eisenhower-era cultural complacency with acid stage monologues, delivering biting social commentary in the guise of a stand-up comedian and thus changing the nature of both stand-up comedy and social commentary, died on Tuesday, Oct. 26, 2021, at his home in Mill Valley, Calif., near San Francisco. He was 94. (Don Hogan Charles/The New York Times)
Legendary local comedian dies at 94

By Bruce Weber NYTimes News Service Mort Sahl, who confronted Eisenhower-era cultural… Continue reading

Sharon Van Etten (left) reached out to Angel Olsen about working on a song and they ended up releasing “Like I Used To,” which may be performed at Outside Lands. (Photo by Dana Trippe)
Performers’ emotions are high as Outside Lands returns to San Francisco

Festival features Sharon Van Etten and Boy Scouts alongside The Strokes, Lizzo and Tame Impala

Most Read