The old Schlage Lock Company factory on Bayshore Boulevard will soon become a new community of middle and low income housing, parks and retail. The lock company closed its factory on the 20-acre site back in 1999, and plans for the site have been bouncing around since then. It nearly became a Home Depot right after it closed, but concerns over "big-box" retail derailed those plans. Since then, the community, the property's owner United Paragon Corporation, and the Planning Department have been negotiating over details and financing for the project. The site has no infrastructure, meaning that necessities like power and water must be built at a huge price tag. Ultimately, a creative financing deal was reached that made the development of the land feasible for United Paragon and affordable for the city.
There will be 1,679 condos and apartments on the site. 15 percent of these will be reserved as below-market rate, while the rest are to be priced for middle-income households. Another main priority of the project is to attract a grocery store of at least 15,000 square feet and to create two new one-acre parks. The project is also surrounded by transit, with new access being built for residents to walk to the Bayshore Caltrain station and the T-line also nearby. Community meetings around the development have stressed the need to prioritize creative design, green walls and a positive pedestrian experience. Building designs will incorporate varied rooflines, color and a variety of materials. If the new agreement is signed off on by the Planning Commission and the Board of Supervisors, construction could start as early as next year.