**Genentech Plans $5 Billion Multi-Phase Revamp of South San Francisco Campus**
Genentech Inc., a pioneering force in biotechnology, has announced plans to undertake a massive, multi-phase redevelopment of its headquarters campus in South San Francisco. The ambitious project could cost upwards of $5 billion, with initial construction possibly beginning as early as next year.
The first phase of the redevelopment would include approximately one million square feet of new laboratory space, with an estimated value of $1.5 billion. As part of the project, the company will demolish outdated buildings and construct new facilities closer to the core of its bayside headquarters.
Founded in 1976, Genentech has been a cornerstone of the South San Francisco biotech hub for nearly five decades. However, company officials say the current layout and aging infrastructure no longer meet the demands of modern science and innovation.
“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,” said Sophie Martin, Genentech’s director of real estate strategy, 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.”
So far, Genentech has released limited details regarding the specifics or timeline of the full redevelopment plan.
