Just in case you thought the 15 acre site-Village Square project, the Pilgrim-Triton project and the newly filled Parkside Towers reflected a booming Foster City business environment, look out, because here comes two more. The Chess Drive project, which is in the area north of highway 92 and east of Foster City Blvd, will replace 190,000 square feet of office and warehouse space with an 800,000 square foot office building that could rise as high as 10 stories. On top of that the big biotechnology company Gilead Sciences plans to double it’s research and development facility on Lakeside Drive from a little over 600,000 square feet to 1,200,000 square feet. Yowza! So here’s what Foster City’s got on the table right now in terms of future square footage in just the newest developments:

Parkside Towers……400,000 sq ft

Gilead Sciences……..1,200,000 sq ft

Pilgrim-Triton………..319,000 sq ft

Village Square………..30,000 sq ft

Chess Drive……………800,000 sq ft

                      Total    2,749,000 sq ft of office and retail space on the horizon!

Needless to say, Foster City is in the process of hiring a consultant to study the anticipated outcome on local traffic from having all of these projects converge in this town. Here’s a link to a San Mateo Daily News story about this issue:

TrafficStory

Um, let’s think about this for a second…almost 3 million square feet of new office space, a new downtown environment, a second retail live-work hub and maybe even a Peets Coffee. It would seem that our home values are going to be OK? I think we can count on it.