**Genentech Plans $5 Billion Multi-Phase Revamp of South San Francisco Campus**
Biotechnology pioneer Genentech Inc. is preparing for a major transformation of its headquarters in South San Francisco, with a multi-phase redevelopment project that may exceed $5 billion in costs, according to the San Francisco Business Times. The project will begin with a one-million-square-foot first phase dedicated to laboratory space, with an estimated cost of $1.5 billion. Construction could start as early as next year.
Founded in 1976, Genentech has long maintained its headquarters in South San Francisco. As part of the redevelopment, the company plans to demolish outdated structures and construct new, more centralized buildings on its bayside campus.
“While we’re very proud of having been here for so long, for better or for worse, it also means our buildings have been here for a really long time,” Sophie Martin, Genentech’s real estate strategy director, said during a presentation to the South San Francisco City Council on June 25. “Neither our core facilities nor the physical layout of our campus adequately support the type of science and technological advancements that are necessary to help us stay competitive and at the forefront of our industry.”
At this stage, Genentech has shared limited details regarding the full scope and timeline of the project.
