BY STEPHANIE LAM
Daily Post Correspondent
Plans are in the works to build a 594,000-square-foot research and development campus in the eastern part of Redwood City.
Metlife Investment Management submitted a proposal in November to create two five-story life sciences buildings and two multi-level garages on 505 Penobscot Drive.
The city is reviewing the project to see if it meets California Environmental Quality Act requirements.
Metlife invests in businesses for its parent company, Metlife Inc., a global insurance company providing life insurance, annuities, employee benefits and financial services for its customers.
Next to creek
The site is next to the banks of the Redwood Creek, across from Blair Island. The surrounding area is a hub for water-related organizations, including the Peninsula Youth Sailing Foundation and the Marine Science Institute.
Office-only proposals have become rarer in the area, but some are still being proposed, such as a gigantic development called Redwood Life near Redwood Shores by Longfellow Real Estate, which plans to transform an existing business park into a large, modern campus for life science and tech companies. The Life application calls for creating a 2.73-million-square-foot life sciences office campus on an 84-acre site between Belmont Slough and Marine Parkway. The site will also have 12 buildings spread across five parcels, including a 104-room hotel and community amenity center.
Housing
A key question in the review process for both projects will be how much demand for housing would the developments create.
I’m sure if a virus escapes from one of these labs and kills people, the San Mateo County Health Department will tell us it came from a Chinese market or the SF Zoo.