Life science use is now a possibility at Parkside Towers in Foster City following the City Council’s approving zoning changes allowing research and development.
The property developer, Harvest Property, hopes the switch will improve vacancy rates and the expected decline in the next year to 18 months of tenants from around 86% to 72%. The city has said there are challenges in finding tenants due to short-term economic issues and more people working from home. There are hopes the booming life science industry on the Peninsula will see more interest. The owner could relocate tenants to one tower and convert the other but would likely need a long-term commitment from an R&D tenant before converting offices to laboratories. The owner could still rent out the office space if demand showed a need for it at the site, with plans to see what options are available for both life science and traditional office use.
Parkside Towers is located at 1001 and 1051 E. Hillsdale Blvd., north of the intersection at East Hillsdale and Shell boulevards. IBM and other commercial businesses use the office. The nearby property includes the Foster City Library and Marriott Courtyard Hotel. The site holds two office buildings over a three-story parking garage, with 30,000 square feet of a park and outdoor area. The eight-story buildings have a shared parking garage from floors one through three and an office from floors four through eight.
City staff said the project would have minimal impact on the city’s job housing requirements under the Regional Housing Needs Allocation, which is mandated by the Association of Bay Area Governments, to meet state housing law. ABAG requires a city to plan for the development of additional housing units and remove constraints to growth. Foster City saw a large increase from its last cycle, with some on the council concerned about where to put the potential future housing in the small city.
The council introduced the ordinance allowing the general plan and land use changes needed for the switch at its Dec. 5 meeting. The council voted 4-0 to approve it, with Councilmember Sanjay Gehani absent. The Foster City Planning Commission originally recommended the change to a research and development use at its Nov. 3 meeting.
