Greenland USA Proposes To Add Housing As Part Of $1B Oyster Point Project
Greenland USA has proposed adding 1,191 residential units and 22k SF of retail and amenities to its 42-acre site in South San Francisco. The Chinese developer bought the site for $171M last August and received approval for 2.25M SF of office and life science space for the Landing at Oyster Pointer project. The recent filing proposed to add residential and retail in a later phase and would need to be approved, reports the San Francisco Business Times.
The developer previously said it would invest $1B for the purchase and development of the site. Phase 1 will include 500k SF of commercial. Work on infrastructure is expected to begin during the third quarter. Phase 2 would develop 1M SF of office/R&D, which includes 28k SF of retail, amenity or flex-use space. The newly proposed residential and retail would be a part of Phases 3 and 4. [SFBT]
