SOUTH SAN FRANCISCO, Calif., Oct. 11, 2017 /PRNewswire/ -- This morning, city and county leaders and representatives from the developer gathered to celebrate the groundbreaking of the first phase for Oyster Point's development. The project includes infrastructure work for new office space as well as new public amenities and parks for Oyster Point to be enjoyed by all of South San Francisco.
"This is the beginning of an incredible development for South San Francisco," said South San Francisco Mayor Pradeep Gupta. "We're making history as we transform this piece of remarkable land for residents and visitors to enjoy, which includes an improved Bay Trail and additional open space."
This phase of the project includes new parks and other public amenities and is a partnership between the City of South San Francisco and Oyster Point Development, LLC.
San Mateo County Supervisor Dave Pine reinforced the County's support for the Oyster Point development, adding: "San Mateo County is extraordinarily proud of this project. It will strengthen our position as a biotech world leader, while also opening up the site for the public to enjoy."
Gang Hu, president and CEO of Greenland USA, and chairman of Oyster Point Development, LLC, stated: "As Greenland USA has done with our investments in other US cities – Metropolis in Los Angeles and Pacific Park Brooklyn in New York – we are excited to contribute our vision and expertise to the Oyster Point Development here in South San Francisco. Guided by Greenland USA's vision, this leading biotech business hub will expand into an even more vibrant community. A community with new parks, increased access for residents, and better workplaces. A location where local residents will want to live, work, and play. A destination with community as its focal point."
Chao Wu, EVP of Greenland USA and CEO of Oyster Point Development, LLC, shared that: "We want to do this project the right way—not just bring all of the tremendous benefits to Oyster Point and the city, but to manage the construction in a manner that respects our neighbors."
The Oyster Point Development project is a multi-phased development of Oyster Point in South San Francisco that was approved by the City Council in 2011. The approved plan calls for the transformation of approximately 80 acres of the bay front area into a sustainable, mixed-use development that will include a state-of-the-art life sciences campus, a park and recreation destination, a vibrant marina environment, and a site that can accommodate commercial and hotel uses.
Phase I construction for the multi-phased development begins this fall and will continue for approximately two years.
About Oyster Point Development, LLC
Oyster Point Development, LLC is the team managing the unique opportunity to revitalize Oyster Point in South San Francisco. It is a joint venture by Greenland USA, Ping An Trust, Agile Group Holdings, and SOW Capital. Oyster Point Development, LLC is focused on responsibly managing the multi-phased development and working closely with the South San Francisco community to further cement the city as the world's leading biotech hub, and providing improved public access and amenities along the Bay Trail for all residents.
About Greenland USA
Greenland USA is a leading developer of residential and commercial properties that transforms communities. Greenland USA leverages its extensive international track record, commitment to design innovation, quality and efficiency and its local market expertise to bring landmark properties to fruition. It is currently developing the $1B+ property Metropolis in Los Angeles and the $6B+ property Pacific Park Brooklyn in New York.
Established in 2013, Greenland USA is a subsidiary of the Greenland Group, which is publicly traded on the Shanghai Stock Exchange (SSE), and ranked 277th among the Fortune Global 500 in 2017.
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SOURCE Oyster Point Development, LLC