Healthpeak receives entitlements for extra 1.3M square feet at Vantage Campus

Healthpeak Properties announced it has received approval of entitlements for Phases II and III of its purpose-built lab development campus, Vantage, in South San Francisco. The newly awarded entitlements provide Healthpeak the ability to deliver an additional 1.3 million square feet of lab space, bringing the combined campus to approximately 1.7 million square feet upon full buildout. These entitlements represent double the allowable density compared to when Healthpeak originally acquired the land. The long-term nature of the entitlements offers flexibility to deliver the balance of the development in phases to align with market demand. “Inspired by our success at The Cove and other nearby campuses, the Vantage master plan is a continuation of Healthpeak’s vision to create a world class campus that provides an inviting and collaborative setting for the nurturing of ideas, knowledge, and discoveries that shape the biotech industry,” said Scott Bohn, Healthpeak’s Chief Development Officer and Co-Head of Lab. “The future phases of Vantage provide Healthpeak a strategic development pipeline to meet the growth needs of our current and future tenants.” Mr. Bohn continued, “We’re appreciative of the collaborative and mutually beneficial relationship we have fostered with the City of South San Francisco over the past three decades and look forward to Vantage furthering South San Francisco’s position as a leading market for biotech innovation.”