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Public Policy Newsletter Article

Regency Centers Project Moves to San Diego Planning Commission

  • 2020-09-24T14:30:00.000+0000
  • Author: Melanie Cohn

At the September 24th San Diego Planning Commission meeting, Biocom staff testified in support of Regency Centers and Alexandria Real Estate Equities proposal to redevelop Costa Verde Center. Biocom has supported this project through various iterations since 2018; we have been pleased to see the addition of expanded office and R&D space to accommodate the area’s ever-growing life science industry. The Planning Commission voted to support the project unanimously – it now moves to City Council for final approval in October, with construction starting in the second quarter of 2021.

We support the project’s proposed lifestyle hotel, whose meeting space and room accommodations can provide added service to the surrounding area. The proposal also includes 400,000 square feet of lab ready R&D/office space, ideally situated on an enhanced trolley connection and adjacent to the existing life science industry in UTC and Torrey Pines. The partnership between Regency Centers and Alexandria can deliver amenities such as local dining options, while accessing Alexandria’s expertise to develop additional lab and office space.

The project’s Environmental Impact Report certification came in mid-September, and the University Community Planning Group moved the project forward with several recommended changes on September 15th. Biocom will continue to track its progress and will support the project as it moves to City Council.