Life Sciences Firm Buys Mixed-Used Redwood City Development Site

REDWOOD CITY, CA — IQHQ, a life science real estate development company, has purchased an 8.3-acre mixed-use development site in downtown Redwood City called Elco Yards, the company announced Monday.

The company plans to turn the “shovel-ready” site into the “first large-scale office and life science development site” in Redwood City, according to a news release. The company did not disclose the purchase price.

The proposed development has four buildings totaling 600,000 square feet and two apartment buildings with a combined 540 units.

Redwood City Mayor Diane Howard said in a news release that she was pleased to welcome IQHQ to downtown, adding that the project will include 147 affordable housing units.

IQHQ, which has offices in San Diego and Boston, also plans to build a landscaped pedestrian and bike path along Redwood Creek from El Camino Real to Lathrop Street.

“Elco Yards represents an iconic project in a thriving life science market with a proven track record of attracting top companies and diverse talent,” said Steve Rosetta, CEO of IQHQ. “We are excited to advance this project, which is fully entitled and well positioned to address the unmet demand for premier lab space in the Bay Area.”