Not sure how that title relates to the post itself…but it sort of sounded good, so what the heck! Anyway, the point is that Foster City’s own Gilead Sciences has officially gained approval for nearly doubling it’s Vintage Park campus. It’s going to grow from a little over 629,000 square feet to over 1,200,000 sq ft in a total of 17 buildings. Construction is expected to take place over the next 10 years. Gilead also purchased an additional 30 acres of land adjacent to it’s current campus.
To me at least, this all means a continued healthy Foster City economy and yet another reason to feel optimistic about the maintenance of home values in this area. Gilead’s plan is to expect an increase in employees from 1200 right now to more than 3000 in 10 years. This, in a town where there are currently only 10 single family homes actively listed for sale. It seems obvious to me that this kind of growth is going to keep home values stabile at the very least. I wrote a post in 2008 about a great book by a guy by the name of Richard Florida called Who’s Your City? that really nails the strength of this area and why it’s dynamic energy bodes well for our futures here. What we’re seeing with Gilead is living proof.