Port of Redwood City Issues RFP for Potential 13.4-Acre Development Project Along the Waterfront

Port of Redwood City, Redwood City, Peninsula

By Jon Peterson

The Port of Redwood City has issued a Request for Proposal for a future development project near Seaport Boulevard in the City’s waterfront neighborhood. Any firms interested in responding to the RFP must respond with their proposal by August 1st.

“We think that there is a real opportunity to create a project that could have a very positive benefit to our community in the future. Our goal with the RFP is to find a master development partner where we can setup a ground lease with this project in the future,” says Kristine Zortman, executive director with the Port of Redwood City.

The project site for the RFP includes an initial development opportunity of 7.6 acres with the possibility of adding 5.8 acres in the future, for a total of 13.4 acres. The initial opportunity is flat, mostly paved, underutilized land boarded by the municipal marina, Redwood Creek and Portside Office Buildings. The marina could be incorporated into the concept if desired. Existing uses include an office building, yacht club, sailing center, conference center, public parking and promenade.

The site considered for the redevelopment is zoned as a marina and the proposals should have public access and a community benefit focus. Some property types under consideration could include restaurants, hospitality, retail shops, creative/contemplative spaces or other active recreational uses that have a direct nexus to the site’s close proximity to the water.

Any potential projects that are constructed in the future cannot be more than three stories high. No housing or any type of residential uses will be permitted. Office space for the project is strongly discouraged unless its visitor-serving or provides a maritime nexus.

There is a proposed ferry service to the site in the future. This could connect Redwood City to either San Francisco and/or Oakland. The idea is to have a terminal on the port property at the eastern end of Seaport Boulevard.

The development opportunity benefits from its close proximity to major employers. This includes companies like Google, Beta, Stanford University, Box and Impossible Foods. These firms and others provide residents with significant discretionary spending potential.

The project documents project that within a three-mile radius of the site, there will be a population of 100,000 residents by 2024. For the same time period, the median housing income is anticipated to be $117,971 and the average household income of $168,702.

West Coast Commercial Real Estate News