{"id":1004719954,"date":"2024-07-04T06:23:21","date_gmt":"2024-07-04T14:23:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004719954"},"modified":"2024-07-04T06:23:23","modified_gmt":"2024-07-04T14:23:23","slug":"ucsf-plans-rd-facility-in-san-francisco","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/","title":{"rendered":"UCSF Plans R&amp;D Facility in San Francisco"},"content":{"rendered":"\n<p>The University of California at San Francisco is reportedly planning to develop a 284,800-square-foot research facility and outpatient treatment center on part of the site of the former Potrero Power Station, which is in southeast San Francisco on the bay. The UCSF plan is currently being considered by the San Francisco Board of Supervisors.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"782\" height=\"600\" data-attachment-id=\"1004720125\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/deyoung-museum-featured\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg\" data-orig-size=\"782,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"deYoung-museum-featured\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Herzog &#038; de Meuron also designed the de Young Museum. Photography by Gary Sexton, courtesy of the Fine Arts Museums of San Francisco&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg?w=782\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg\" alt=\"Herzog &amp; de Meuron also designed the de Young Museum\" class=\"wp-image-1004720125\" style=\"width:402px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg 782w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg?resize=300,230 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg?resize=768,589 768w\" sizes=\"auto, (max-width: 782px) 100vw, 782px\" \/><figcaption class=\"wp-element-caption\">Herzog &amp; de Meuron also designed the de Young Museum, a component of the Fine Arts Museums of San Francisco. <em>Photography by Gary Sexton, courtesy of the Fine Arts Museums of San Francisco<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The research facility would be on Block 2 of the Potrero Power Station Special Use District, which is the legal framework for the redevelopment of the shuttered Potrero Power Station in the Dogpatch neighborhood into a mixed-use project, a long-term redevelopment undertaken by Associate Capital.<\/p>\n\n\n\n<p>The redevelopment district is roughly bounded by 22nd Street, 23rd Street, Illinois Street and the bay. The long-term plan for the district calls for as many as 2,600 housing units, 1.6 million square feet of commercial space, a 250-key hotel and green space.<\/p>\n\n\n\n<p>The UCSF plan would mean that the university would own the block outright, once the city signs off on the plan. Swiss architects Herzog &amp; de Meuron, best known for the de Young Museum, designed the new UCSF building.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/the-top-alternative-asset-class-on-institutional-investors-radar\/\">The Top Alternative Asset Class on Institutional Investors\u2019 Radar<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The research facility would be the second building in the district so far, following a 105-unit residential development that Associate Capital started in 2023, after funding was approved to make infrastructure improvements in the district.<\/p>\n\n\n\n<p>The city created the district itself in 2020, anticipating that it would add a significant amount of publicly accessible open space and community facilities, increased public access to the waterfront, neighborhood-serving retail, and affordable housing. The site had been devoted to electricity production since the late 19th century, eventually operating as the last fossil fuel power plant in the city, which closed in 2011.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-san-francisco-life-science-market-cools\">San Francisco life science market cools<\/h2>\n\n\n\n<p>Once a hot market, life sciences in the Bay Area cooled as funding got more expensive, though the market is still sizable and active companies <a href=\"https:\/\/www.commercialsearch.com\/news\/mbh-architects-on-trends-in-bay-area-life-science-design\/\">are looking for high-quality space<\/a>. The city managed to eke out positive absorption of nearly 36,500 square feet in the first quarter of 2024, Avison Young reports, compared with negative absorption of more than 278,000 square feet for San Francisco Peninsula as a whole.<\/p>\n\n\n\n<p>Life science vacancies have been rising steadily in the Bay Area, from well below 10 percent just before the pandemic\u2014and in the quarters immediately after the worst of the pandemic\u2014to exceeding 20 percent by the beginning of 2024, with some development still underway. The upshot may be a short-term oversupply in the Bay Area, Avison Young notes.<\/p>\n\n\n\n<p>Total life science employment in the Bay Area has mushroomed in the last 20 years, according to Avison Young, supporting the expansion of life science real estate in the region, with San Francisco forming one of the nation&#8217;s main clusters in the industry. In the city, only about 2,000 people worked in the sector in 2002. Twenty years later, the total was more than 13,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Designed by Herzog &#038; de Meuron, the project is part of the Potrero Power Station redevelopment district.<\/p>\n","protected":false},"author":1023,"featured_media":1004720125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,21747,1609,15],"tags":[33022,36670],"class_list":["post-1004719954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-office","category-san-francisco","category-west","tag-avison-young","tag-herzog-de-meuron"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UCSF Plans R&amp;D Facility in San Francisco - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The University of California at San Francisco is planning a research and treatment facility at the site of the former Potrero Power Station.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UCSF Plans R&amp;D Facility in San Francisco\" \/>\n<meta property=\"og:description\" content=\"The University of California at San Francisco is planning a research and treatment facility at the site of the former Potrero Power Station.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-04T14:23:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-04T14:23:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"782\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/\",\"name\":\"UCSF Plans R&amp;D Facility in San Francisco - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg\",\"datePublished\":\"2024-07-04T14:23:21+00:00\",\"dateModified\":\"2024-07-04T14:23:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"description\":\"The University of California at San Francisco is planning a research and treatment facility at the site of the former Potrero Power Station.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ucsf-plans-rd-facility-in-san-francisco\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/deYoung-museum-featured.jpg\",\"width\":782,\"height\":600,\"caption\":\"Herzog & de Meuron also designed the de Young Museum. 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