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DRAFT <br />Table 1A. Market Feasibility or Susceptibility to Change in Next 10 Years of Harbor View and Port Side Parcels <br />Harbor View Project Parcels — Market Support — high or low <br />Comment on Market Support <br />Alternative Future Use Susceptibility to Change in —10 <br />years — high or low <br />■ Commercial Park Tech Office High market support <br />Redwood City is becoming a hub for social media and IT <br />companies due to access to Caltrain and lower rents <br />compared to Bay Area locations such as Palo Alto, Menlo <br />Park and San Francisco. Bohannon's Menlo Park is a success <br />example adjacent to the 101 Freeway. <br />■ BioTech / R&D Medium market support but <br />There are around 60,000 jobs in the biotech sector in the <br />trending up <br />Bay Area, half of which are in South San Francisco, while <br />Redwood City has around 5%, or 3,000 jobs. Also, most <br />large firm headquarters are in South San Francisco, <br />whereas Redwood City is currently more a location for <br />smaller firms. Recently, Alexandria, a major developer of <br />Biotech in the Bay Area, has acquired property in next door <br />San Carlos (Meridian 25), for $85 million with entitlements <br />and is expected to build a 530,000 square foot bio -tech <br />development with a fairly high ratio of office to lab use. <br />Reportedly, this project will potentially be developed into <br />two six -story buildings with a parking structure. <br />■ Light Industrial other than BioTech / R&D High market support (but low <br />Industrial supports residual land values significantly lower <br />financial support) <br />(generally not over $40 per sq. ft.) than reported price paid <br />to assemble the Harbor View site. <br />Port -side Parcels South of Seaport Center <br />■ Existing Major Uses/Users Continue <br />— Granite Rock Low susceptibility to change <br />Own the land and one of the largest construction material <br />producers in US <br />— Peninsula Building Materials Low susceptibility to change <br />Same location since 1982 <br />\\SF-FS2\wp\18\18610\010\Financial Feasibility -Harbor View 1.16.18.docx <br />v <br />CD <br />N <br />O <br />