Airport Transit Extension Prompts Development

SAN FRANCISO-A major factor in the development of mixed-use projects focused around transit stations is the $1.5 billion extension of Bay Area Rapid Transit to San Francisco airport. In the cities of San Bruno, Colma and Daly City projects are already in the works focused around transit stations. In thriving transit hubs like San Mateo, tenants are signing up for space within walking distance of transportation.

In San Bruno, Martin Group of San Francisco and Regis Homes, a division of Foster City-based Sares-Regis Group closed on the purchase of a 20-acre site where a $200 million project with 300,000 sf of office space, 210 multi-family homes and a 500-room hotel are planned. The site, which cost the two companies about $25.5 million, is one block from a proposed BART station and two blocks from an exiting Caltrain Station.

Although Colma requires a smaller scale, Trammell Crow Residential is looking to develop a mixed housing and retail project near the Colma BART. The developer plans to lease a 2.1-acre parcel from the San Mateo County Transit Agency and build a $28-million development that includes 144 apartment and live-work units on top of a retail area.