Mixed Use Case Study
UC Hastings College of the Law—Academic Village
Greystar has reached financial close and commenced construction on this transformative project on the UC Hastings College of the Law campus in downtown San Francisco. The housing will serve both graduate students and faculty of UC Hastings, affiliated research centers, and other participating universities, and will include shuttle service between the UC Hastings and UC San Francisco campuses.
Despite challenges brought on by COVID-19, the University and Greystar were able to orchestrate the successful sale of tax-exempt, project-revenue bonds to fund Phase I of the project — the new construction of 667 beds for students, faculty, and staff; 43,000 square feet of University office & academic space; and 8,000 square feet of retail. While the University will lease all the academic and office spaces, the ground lease payments are expected to be greater than the University’s lease obligation, resulting in net positive payments to the University.
Phase II of the project, a renovation of the historic 100 McAllister building adjacent to the new construction, is projected to open in 2025 or later and will provide complimentary mixed uses to further enhance the multi-institutional academic village.