A long-stalled Fremont shopping center may become industrial space instead.
Scannell Properties wants to build 400,000 square feet of industrial space on 22.4 acres at 40517-40525 Albrae Street, the San Francisco Business Times reported. American Pacific International Capital entitled the mall in 2007 and built 102,000 square feet on nine acres, only to stop when the recession hit a year later.
Scannell plans to build a 190,503-square-foot and 157,783-square-foot building for logistics and manufacturing. A third 46,839-square-foot building is planned for research and development or advanced manufacturing.
The proposal would require a general plan amendment and rezoning for the site, consistent with uses for which the property is already zoned.
Read more
Development
San Francisco
Lender buys site of Fremont mixed-use project from bankrupt developer for $40M
Two commercial structures would have to be demolished to make way for the new construction. One is vacant and the other is already partially torn down.
According to the staff report, city officials expect the new development to rehabilitate an “urban, blighted commercial site” and generate up to 650 jobs and sales tax revenue for Fremont.
The original $200 million plan for the project called for internationally themed retail and restaurants and what would have been the tallest building in Fremont — a 12-story, 250-key Europa Hotel. Fifteen years later, less than six percent of the 557,900-square-foot commercial space approved for The Globe has been built.
Scannell offered a community benefit pledge of $500,000.
The project was scheduled to go before the Planning Commission at the Feb. 10 meeting. Scannell asked it to be discussed at the next meeting on Feb. 24. While city staff have recommended the commission approve the project, it will still need final approval from the city council.
[SFBT] — Victoria Pruitt