18+ Acre Life Science Development in Burlingame? Exciting!
I read an interesting article below in the Burlingame Chamber of Commerce newsletter about an exciting new project which would be developed at the long vacant Drive In Theatre...if this were to happen, it would be huge for the City. I hope it works out, and I'm glad we have good people in our City government to make sure the project, if it happens, proceeds properly. With nearly 30 biotech companies in Burlingame already, I think this would lead to cementing Burlingame's place as a hub for the life sciences and biotech industry. Plus, by attracting even more highly paid talent to work there, the Burlingame real estate market would most certainly benefit as demand would increase as more buyers enter the market. We saw this last year as in 2011 the median home price rose 7.7% and we had the most number of sales since 2007.
Burlingame Point: A Vision for an Employment Center on Burlingame's Waterfront
Background: In the southeastern portion of the City of Burlingame near Coyote Point, on the shores of San Francisco Bay sits for former Burlingame Drive-In Theatre site - a site that has been vacant since the closure of the theatre nearly ten years ago. The 18+ acre property represents the largest remaining undeveloped property in the City. Millennium Partners commenced conceptual discussions with the City nearly four-years ago as the potential developer of the site into a signature development ("Burlingame Point") that would provide opportunities for life-science and/or office uses as well as other associated amenities. When developed, the project has the potential to create opportunities for nearly 2,500 new jobs within the City of Burlingame. Millennium submitted its formal application to the City for consideration in April, 2010. At the present, work is proceeding to finalize the Environmental Impact Report (EIR) for the project - public hearings to consider certification of the EIR and approval of the project are anticipated to occur within late-March or April of 2012.
Project Overview: "Burlingame Point" is designed to include 767,000 square feet of new uses within two, five-story buildings; one, seven-story building; one, eight-story building; and a two-story amenities building. The development is designed to suit office/life science uses (approximately 690,000 square feet), retail uses (approximately 18,000 square feet) and food service uses (approximately 22,000 square feet). The 37,000 square foot "amenities" building is to house a childcare and exercise facility (approximately 33,400 square feet), a food service area (approximately 2,400 square feet) and retail spaces (approximately 1,200 square feet). Structured above- and below-grade structured and surface parking is to be provided throughout the project. As part of the project's development, Airport Boulevard would be realigned into a more curvilinear arrangement. Additionally, significant open space improvements are to be provided along San Francisco Bay and Sanchez Channel; and extension of the Bay Trail through the project site is to be completed.
For further Information: Stay abreast of developments regarding this project by viewing the Community Development Department's website for the project at www.burlingame.org, or contact the Department by phone at (650) 558-7250 for further information.
