Nearly two years after winning a hard-fought approval from the City Council, one of the city’s largest housing and office projects in years will begin construction later this year.
Developer Sares Regis is looking to move forward on the first phase of the Pilgrim-Triton master plan, a mixed-use development that includes 730 housing units on 21 acres of land owned by three separate entities.
On Jan. 20, the developer is set to ask the Planning Commission for a subdivision of the portion of property owned by Northwestern Mutual Life Insurance Co.
Then, the developer would only need building permits to start the roughly $100 million first phase, which includes demolishing 92,000 square feet of offices and building 300 apartment units, a 638-stall parking garage, 17,000 square feet of ground-floor retail space and a plaza. Sares Regis is currently working on construction financing and hopes to break ground in spring or summer.
“It’s a compelling location and we think it’s going to be a great project, and it’s going to create a great new place with the public plaza,” said Drew Hudacek, a senior vice president for Sares Regis.
The area’s 10-year master plan — which would replace a collection of industrial office buildings just south of Foster City Boulevard and state Highway 92 — calls for a total of 296,000 square feet of offices, 30,000 square feet of retail and a 2.3-acre plaza, and requires 20 percent affordable-housing units.
The City Council approved the master plan in April 2008, despite some residents’ concerns about traffic and the added burden on already-crowded local schools.
The extra students from the new housing are still an issue as the San Mateo-Foster City School District faces growing enrollment, said Colleen Sullivan, the president of the district’s board.
“We’re definitely going to have to keep our eye on [the project],” Sullivan said.
Construction on the largest recent development approved in Foster City is about to begin. Here is a breakdown of the 21-acre project:
Who owns the land
- Northwestern Mutual Life Insurance Co., 9.91 acres
- AMB Property Corp., 6.10 acres
- Foster City Executive Park Partners, 4.94 acres
Approved master plan includes
- 730 housing units
- 296,000 square feet of office space
- 30,000 square feet of storefront office and retail space
- 2.35 acreage of central plaza
- 0.5 acreage of additional public open space activating the canal frontage
Source: Pilgrim-Triton master plan