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BERKELEY — A real estate alliance has bought more than a dozen parcels on a choice Berkeley site where the group is planning to develop a vast innovation and life sciences campus, public records show.
The development firms paid nearly $49 million for 16 parcels in western Berkeley that allowed them to assemble a big site bounded by Eastshore Highway, Gilman Street, Third Street and Page Street, according to documents filed on July 31 at the Alameda County Recorder’s Office.
IQHQ, a big real estate developer, teamed up with Spur Capital Partners to buy the parcels in western Berkeley, the county records show. The buyers acted through affiliates.
The development will replace sites that include the former operations of Pacific Steel Castings Steel Mill and Berkeley Forge & Tool.
“This is a significant and positive development for our community that pays tribute to the important history of this steel mill site while paving the way for a brighter future for the West Berkeley community,” Berkeley Mayor Jesse Arreguin said.
Gilman Gateway is the anticipated name of the project. The development would total about 900,000 square feet if it is fully built out.
“The project provides an opportunity to build on the history of research, development and manufacturing in West Berkeley and will bring the next era of innovation in life sciences to Berkeley,” the developers stated in their application to the city.
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