Hotel Development Opportunity the Development of a Waterfront Hotel Project at Oyster Point February 2017
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Subject Site REQUEST FOR QUALIFICATIONS: HOTEL DEVELOPMENT OPPORTUNITY THE DEVELOPMENT OF A WATERFRONT HOTEL PROJECT AT OYSTER POINT FEBRUARY 2017 PREPARED ON BEHALF OF: CONTACT: Chris Kraus Miky Kuo Managing Director Director CBRE Hotels - Consulting CBRE Hotels - Consulting 101 California Street, 44th Floor 101 California Street, 44th Floor San Francisco, California 94111 San Francisco, California 94111 HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA Tel: +1 415 652 4483 Tel: +1 415 772 0358 | 1 Email: [email protected] Email: [email protected] TABLE OF CONTENTS 03 07 16 23 28 EXECUTIVE PROJECT & SITE SOUTH SAN LOCAL LODGING SUBMITTAL SUMMARY OVERVIEW FRANCISCO MARKET OVERVIEW REQUIREMENTS OVERVIEW HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 2 Subject Site EXECUTIVE SUMMARY HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 3 EXECUTIVE SUMARY AN EXCELLENT OPPORTUNITY TO DEVELOP A HIGH-QUALITY, perform all services necessary to successfully develop a hotel or WATERFRONT HOTEL ON OYSTER POINT IN SOUTH SAN hotels with up to 350 guestrooms (the “Hotel Project”). FRANCISCO, CALIFORNIA Following a review of qualifications submitted by interested The City of South San Francisco (the “City”), through itself or an Development Teams, the City plans to interview those parties it affiliate, seeks to solicit a statement of qualifications and determines are best-suited to successfully develop the Hotel preliminary project concept from qualified Development Teams to Project. Ultimately, the City will then select the most qualified build a high-quality, hotel or hotels, to be located at Oyster Point Development Teams to submit a formal development proposal. in South San Francisco, California. Partially entitled with program level CEQA clearance for up to 350 guestrooms on 4.7-acre site . Waterfront location, approximately 2.5 miles east of downtown South San Francisco and 10 miles south of San Francisco . Owned by the City and will be delivered vacant and graded in Q3 or Q4 2018 Subject Site . Offers unobstructed views of San Francisco, Oakland, San Francisco International Airport, and San Bruno Mountains . Site is part of Oyster Point Marina Redevelopment Project; a multi-phased development consisting of over 2.2 million square feet of office and R&D space, retail, and open space (to begin construction in 2017) . Located in close proximity to over 200 biotech companies, employing over 20,000 people The proposed hotel or hotels is anticipated to represent an upper upscale or upscale hotel, offering the appropriate compliment of facilities and amenities to cater to the large concentration of transient commercial and leisure as well as corporate group demand in the local market area. Through this Request for Qualifications (“RFQ”), the City seeks to identify highly-qualified, financially capable Development Teams able to enter into a long-term ground lease with the City and HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 4 EXECUTIVE SUMMARY Subject Site San Francisco International Airport HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 5 EXECUTIVE SUMMARY Golden Gate Bridge Bay Bridge Subject Site San Francisco International Airport HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 6 Subject Site PROJECT & SITE OVERVIEW HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 7 PROJECT & SITE OVERVIEW SITE DESCRIPTION: The development site represents a one of a kind waterfront location, offering views of the San Francisco and Oakland skylines to the north and east and San Francisco International Airport to the south. Competitive advantages of the site include: Waterfront Views: With its irreplaceable waterfront location, the site offers unobstructed 270-degree waterfront views. Proximity to Demand Generators: The site will benefit from an excellent location in the City’s Biotech Cluster, the local area’s primary economic driver. Biotech companies anchoring local R&D and office developments include, but are not limited to, Genentech, Amgen, Thermo Fisher Scientific, Theravance, Inc., Subject Site Calico Life Sciences (Google), NGM Biopharmaceuticals, Inc., Pfizer/Rinat, Johnson & Johnson Innovation,JLABS,FivePrime Therapeutics, Inc., Sutro Biopharma, Portola Pharmaceuticals, Accessibility: The site is easily accessed from State Highways Inc., CLSA, and Exelixis, Inc. 101 and 280, the primary north/south routes serving the Bay Area. BART, Caltrain, and Ferry service also provide convenient Oyster Point Redevelopment Project: The proposed Hotel public transportation connectivity to the entire Bay Area. Project would be part of the Oyster Point Redevelopment Project. The Oyster Point Redevelopment Project is a multi- Proximity to San Francisco International Airport (SFO): The phased redevelopment of Oyster Point and will include over Subject Site is conveniently located less than five miles north, 2.25 million square feet of R&D and office space, the proposed via automobile, of San Francisco Airport. hotel development, retail, and public open space (based on 2011 estimates). In addition, 1,191 residential units have been Proximity to San Francisco: While the site’s location is ideal for proposed as part of the project area and are under commercial guests visiting local companies, the proposed consideration for approval. Hotel Project will also be well-positioned to capture overflow demand from San Francisco. HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 8 PROJECT & SITE OVERVIEW OYSTER POINT REDEVELOPMENT PROJECT OVERVIEW: DESIGN GOALS: The vision of the Oyster Point Redevelopment Project is to The primary design goals are as follows: transform 80 acres of under utilized and under developed Bayfront land in South San Francisco into a sustainable mixed-use 1. Implement an environmentally sustainable design approach development that will include a state-of-the-art life science campus, a park and recreation destination, a vibrant marina 2. Create a variety of unique and interesting outdoor places and a environment, and a site that can accommodate commercial and strong pedestrian network hotel land uses. This vision will be achieved by implementing innovative sustainable design approaches, superior architecture, 3. Promote alternative transportation modes, to, from, and within and urban design. the site Phase I of the redevelopment project is currently underway. 4. Integrate private and public spaces The proposed redevelopment of Oyster Point is intended to 5. Provide for economically viable commercial uses through quality include: design and planning A new corporate campus which will include R&D and office 6. Provide a more desirable and usable public realm. buildings, structured parking, and accessory uses. A site to accommodate a future hotel or hotels, restaurant Additional details on the Oyster Point Specific Plan and Design Guidelines can be found at (Click on link): and/or retail near the new Ferry Terminal Public Open Space and Bay Trail Improvements Oyster Point Specific Plan Marina and Ferry Terminal serving amenities including parking, shuttle drop off areas, and waterside improvements. Subject Site 1,191 residential units have been proposed as part of the project area and are under consideration for approval. Currently a Joint Powers Agreement exists between the City of South San Francisco and the San Mateo County Harbor District for maintenance and operations of the site and surrounding uses. The agreement is intended to be amended in the future. HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 9 PROJECT & SITE OVERVIEW Intended uses include retail, parking, open space, recreation, marina, office, commercial services and other potential public and private uses. Subject Site HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 10 PROJECT & SITE OVERVIEW Intended uses include retail, parking, open Subject Site space, recreation, marina, office, commercial services and other potential public and private uses. HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 11 PROJECT & SITE OVERVIEW HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 12 PROJECT & SITE OVERVIEW HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 13 PROJECT & SITE OVERVIEW HOTEL DEVELOPMENT OPPORTUNITY | SOUTH SAN FRANCISCO, CA | 14 PROJECT & SITE OVERVIEW DEVELOPMENT OPPORTUNITY OVERVIEW: SITE SPECIFICATIONS This Hotel Project is intended to benefit both the City of South San Francisco and the South San Francisco Biotech Cluster. To accomplish these objectives, Site Size Approximately 4.7 acres the City seeks a qualified Development Team to construct a project with up to Ownership Interest Leasehold Interest 350 guestrooms and such support amenities as food and beverage facilities, Site control date for meeting and event space, and recreational offerings, though the precise 3Q or 4Q 2018 programming and amenity mix will be determined by the Development Team. Development Team Upon entering into a development agreement and possibly a long-term Partially entitled with program level ground lease, the City expects that the selected Development Team will have Entitlement CEQA clearance for up to 350 primary responsibility for securing funding for predevelopment, necessary site guestrooms preparation, necessary infrastructure, vertical construction, and all other Subject to FAR Part 77 height expenses and activities necessary to make the project successful while Height complying with applicable regulations. restrictions (FAA regulation) 1.6 Base FAR FAR