SAN FRANCISCO—Ventures such as transit-oriented developments, mixed-use projects and repurposing existing sites are being green lighted by new legislation. New regulations taking effect this month are providing new incentives for developments near transit facilities in particular.
While affordable housing subsidies are often included in developments, jurisdictions in the Bay Area are having some difficulty keeping up with high-density housing, Greg Caligari, partner at Cox Castle & Nicholson, tells GlobeSt.com in this exclusive.
“Certainly, land owners are looking at urban core and first-ring suburban projects,” Caligari acknowledges. “The policy issues are in urban sprawl and traffic congestion.”
The focus is on reducing vehicle miles traveled and greenhouse gas emissions, while bringing together the triumvirate of retail, office and housing. Caligari notes that retail and office, of course, bring in more revenue for fiscalization of land but residential components add cost due to schools.
A couple of projects underway provide streamlined approaches to this conundrum. One is by Toll Brothers and Lennar in the Warm Springs area of Fremont adjacent to the Tesla master plan. This transit-oriented project combines housing with office, which are entitled upfront.
It encompasses 879 acres generally bounded by Interstate 880 on the west, Interstate 680 on the east, Auto Mall Parkway on the north and Mission Boulevard on the south. The plan sets the framework for a transformation of the area into an innovation district and employment center accommodating a mix of compatible uses focused around the new BART station and adjacent undeveloped land.
The Fremont Unified School District has reached an agreement whereby the residential developer will also donate land for an elementary school.
Another is 181 Fremont where just last month, Facebook signed the largest office lease in three years. Other nearby employers include Salesforce, JP Morgan Chase, Blackrock, StubHub, CNET and LinkedIn.
Standing more than 800 feet tall and 70 stories, this mixed-use high-rise is comprised of 432,000 square feet of class-A office space and also home to 181 Fremont residences, 67 luxury residences on the top 17 floors of the tower. It also provides more than 100,000 square feet of retail space, including dining, shopping and entertainment.
Immediately adjacent to the new Transbay Transit Center and its elevated 5.4 acre park via seventh floor skybridge, 181 Fremont offers convenient access to the new public transportation hub. The transit center will centralize every major transit system in the city—MUNI, BART, bus lines and the ferries.
Immediately above the transit center and elevated above street level, the new city park will span 5.4 acres. There will be pedestrian bridges and public access points, but 181 Fremont is the only residential building that will have direct access to the park via its own private sky bridge.
Targeted to achieve LEED Platinum certification, 181 Fremont will incorporate innovative design strategies for sustainability, water savings and energy efficiency.
SAN FRANCISCO—Ventures such as transit-oriented developments, mixed-use projects and repurposing existing sites are being green lighted by new legislation. New regulations taking effect this month are providing new incentives for developments near transit facilities in particular.
While affordable housing subsidies are often included in developments, jurisdictions in the Bay Area are having some difficulty keeping up with high-density housing, Greg Caligari, partner at
“Certainly, land owners are looking at urban core and first-ring suburban projects,” Caligari acknowledges. “The policy issues are in urban sprawl and traffic congestion.”
The focus is on reducing vehicle miles traveled and greenhouse gas emissions, while bringing together the triumvirate of retail, office and housing. Caligari notes that retail and office, of course, bring in more revenue for fiscalization of land but residential components add cost due to schools.
A couple of projects underway provide streamlined approaches to this conundrum. One is by Toll Brothers and Lennar in the Warm Springs area of Fremont adjacent to the Tesla master plan. This transit-oriented project combines housing with office, which are entitled upfront.
It encompasses 879 acres generally bounded by Interstate 880 on the west, Interstate 680 on the east, Auto Mall Parkway on the north and Mission Boulevard on the south. The plan sets the framework for a transformation of the area into an innovation district and employment center accommodating a mix of compatible uses focused around the new BART station and adjacent undeveloped land.
The Fremont Unified School District has reached an agreement whereby the residential developer will also donate land for an elementary school.
Another is 181 Fremont where just last month, Facebook signed the largest office lease in three years. Other nearby employers include Salesforce,
Standing more than 800 feet tall and 70 stories, this mixed-use high-rise is comprised of 432,000 square feet of class-A office space and also home to 181 Fremont residences, 67 luxury residences on the top 17 floors of the tower. It also provides more than 100,000 square feet of retail space, including dining, shopping and entertainment.
Immediately adjacent to the new Transbay Transit Center and its elevated 5.4 acre park via seventh floor skybridge, 181 Fremont offers convenient access to the new public transportation hub. The transit center will centralize every major transit system in the city—MUNI, BART, bus lines and the ferries.
Immediately above the transit center and elevated above street level, the new city park will span 5.4 acres. There will be pedestrian bridges and public access points, but 181 Fremont is the only residential building that will have direct access to the park via its own private sky bridge.
Targeted to achieve LEED Platinum certification, 181 Fremont will incorporate innovative design strategies for sustainability, water savings and energy efficiency.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
