Mission Bay: At the Forefront of Medical Research
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October 2007
From the outset of the Mission Bay development, Catellus wanted the neighborhood to serve as a hub for medical research. The newly-built University of California-San Francisco campus, located at the center of the 303-acre, master planned development, serves as the nucleus of this thriving bio-tech center. In just the past year, the vision for Mission Bay has crystallized with an increase in leases signed by research firms and construction of lab space.
 | | Mission Bay is home to the University of California-San Francisco biotech campus. |
In a recent city economic development report, Alexandria Real Estate Equities, a developer specializing in medical lab development, announced plans for an additional 2 million square feet of commercial real estate at Mission Bay by 2011. Alexandria hastened the development schedule based upon rising demand for research space. Already several biotech firms have signed leases, including Sirna Therapeutics.
In addition to the influx of new biotech companies to Mission Bay, several venture capital firms specializing in funding medical research have opened offices in the neighborhood. Versant Ventures and Novo Ventures have both acquired office space in buildings adjacent to the UCSF campus. In addition, Arch Venture Partners will move into the area shortly.
One of the most significant additions to Mission Bay's growing medical community will be the $1.2 billion University of California-San Francisco Hospital. It will be the first new hospital built in San Francisco in 40 years. The facility will specialize in cancer treatment for women and children and provide more than 250 patient beds.
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