NORTHWESTERN MUTUAL LIFE
PILGRIM TRITON PROJECT
FOSTER CITY, CALIFORNIA (pdf version)

COMMERCIAL DEVELOPMENT CASE STUDY:
10-ACRE MIXED-USE ENTITLEMENT ADDING
DRAMATIC VALUE ENHANCEMENT AND DENSITY INTENSIFICATION

As property manager for Northwestern Mutual Life of an aging industrial
complex in Foster City, California, Sares Regis identified redevelopment
potential for this 10-acre site. Taking a holistic approach, we successfully
created and executed a re-entitlement strategy for the project including a
General Plan Amendment, Zoning Change and a complete CEQA
process. The density and income-producing square footage on the
property was increased by 400%. By partnering with other land owners,
Sares Regis was able to provide a 45% savings for the fixed costs on the
project, delivering entitlements on time and below budget.

The master plan created will include 300 apartments, 24 town homes,
180,000 square feet of class A commercial office buildings and 20,000
square feet of retail. By creating a mixed-use master plan in an adaptive
reuse play, we created a sustainable second life for this neighborhood.
The buildings are targeting a LEED Silver Certification.