The Research and Development District (RaDD) of IQHQ is now being built on the waterfront of downtown San Diego. The five buildings (labs, offices, and retail) on an 8-acre (5-block) waterfront property will have a combined floor area of 1,700,000 square feet.
The Fenway Center Life Science Campus (Boston, MA), Alewife Park (Cambridge, MA), and Innovation Park are some of the most interesting life science campuses in the country, and they are all the work of IQHQ (Andover, MA).
Alan Gold, the company’s CEO, has made a career out of developing real estate with a concentration on the life sciences. He serves as executive chairman. Steve Rosetta, another local real estate expert, is the CEO.
Numerous new employment will be created as a result of this fantastic endeavor, which will draw top-tier biotech companies to downtown San Diego. According to a press statement, the project is expected to generate $15 billion in economic benefits, more than 4,000 employment, and $50 million in annual taxes and fees.
It is the perfect time to invest in real estate in downtown’s Columbia District because buildings there will benefit the most from the project, which is expected to cost around $1.5 billion.
Pacific Gate, Electra, The Grande, Bayside, and Savina are residential buildings in downtown San Diego’s Columbia District, which is bordered by the Little Italy District.
The first phase of the district is estimated to be completed by 2023. A museum, 3 acres of green space, rooftop decks, a 17-story tower, and other mid-rise structures (a total of 5 buildings) are all included in the proposal.
The ground level promenade will include around 200,000 sq ft of retails area and will be allocated to multi level restaurants, marketplaces and chic grocers.