Mission Bay, San Francisco, CA

San Francisco's Newest Neighborhood – The Opportunity of a Lifetime

Although it had been a city redevelopment area since 1998, the 303 acres of abandoned rail yard owned by Southern Pacific Railroad now known as Mission Bay was largely undeveloped until 2004. In that year, California voters passed Proposition 71, authorizing $3 billion in grants to build the California Institute of Regenerative Medicine on the site. With the stroke of a pen, California became a world leader in stem cell research and a new neighborhood was born.

The city has discussed plans for 6,000 new units nearby, and a number of exciting new developments have already been completed, including the Park Terrace community and the 235 Berry building. Mission Bay already boasts a number of amenities, including the first new public library in San Francisco in over forty years. In addition to being home to the California Institute of Regenerative Medicine, the Gap corporate headquarters are located nearby, and a number of biotech companies have leased space.

On top of hosting a world class research center, Mission Bay has been in the news lately with the opening of San Francisco MUNI's Third Street light rail project in early 2007. The northern terminus of the new line is in Mission Bay, making it the gateway to the city's long-neglected southeastern neighborhoods.