Major Genentech expansion OKd
South San Francisco has given biotech the green light to keep booming.
On Tuesday night, the City Council approved Genentech’s massive expansion plan to nearly double its headquarters campus by adding up to 4.3 million square feet over 15 years. The longterm plan, one of the Bay Area’s largest real estate projects, is a sign that the biotech industry remains a growth area for a regional economy battered by the coronavirus.
Biotech company Genentech has won approval from the South San Francisco City Council to grow its 207acre campus by 4.3 million square feet over 15 years.
“It’s been a fantastic partnership, and this master plan really gives us the flexibility and the space, in all senses of the word, to make sure we can continue to have the positive impact that we have on the local community,” Genentech CEO Alexander Hardy said in an interview before the vote.
Individual new buildings will require future approvals, and there are no plans to immediately expand, Hardy said. New buildings would be built within the company’s existing
207acre campus, replacing parking lots or older structures.
The company has around 15,000 employees, with 10,000 in the Bay Area. Around half have been working remotely, but many workers continue to go into labs, Hardy said. The company has around 700 open positions.
“We really have a phenomenal campus. It’s such an important part of Genentech,” he said. “Though there’s been a growth in remote working, the campus will remain a really important part of Genentech’s future.”
Genentech is working on 10 drugs that could potentially treat COVID19, including Actemra. It partnered with Regeneron to manufacture the antibody cocktail of casirivimab and imdevimab, drugs that were given to President Trump to treat his coronavirus.
Founded in 1976, Genentech was a pioneer in using DNA technology to develop drugs — for example, creating synthetic insulin to treat diabetes. The company is a subsidiary of Swiss health care giant Roche.
As part of the expansion, Genentech will pay at least $30 million in city fees to fund affordable housing and more than $30 million after construction is finished, along with $15 million in fees for transportation upgrades. The fees include $1 million to help fund accessorydwelling units, or small homes built in backyards, managed by nonprofit Hello Housing.
The plan was originally proposed in 2017 and required a full environmental review.
“This is the culmination of over three years of work,” Mike Futrell, South San Francisco city manager, said at Tuesday’s hearing.