Kennedy Wilson has provided a $183 million construction loan for Alexan Icon, a large residential development set to rise at 1587 and 1588 San Mateo Avenue in South San Francisco, San Mateo County. The project is looking to add nearly five hundred units across two seven-story structures. Hanover Company is the project developer.
100 Produce Avenue and 124 Airport Boulevard, rendering by TCA Architects
100 Produce Avenue and 124 Airport Boulevard view at Airport and San Mateo, rendering by TCA Architects
Once built, the two 85-foot-tall structures will yield a combined 743,700 square feet, with 406,890 square feet across 480 apartments,16,670 square feet for shared amenities, and roughly 227,000 square feet for the 560-car garage, as well as parking for 480 bicycles and loading bays. Building One will yield 455,860 square feet with 294 homes. Building Two will yield 287,230 square feet with 186 homes.
Unit sizes will vary from studios to three bedrooms. Of the 480 units, 60 will be deed-restricted as affordable housing. The project team describes the proposed amenities as including a ‘resort-style pool and spa,’ club lounges, co-working space, bars, and top-floor lounges.
100 Produce Avenue and 124 Airport Boulevard aerial view looking east, rendering by TCA Architects
Alexan Icon existing condition, image via Google Satellite
TCA Architects is responsible for the design. Facade materials will include plaster, metal panels, cementitious lap siding, and either stone veneer or porcelain tiles. Perforated metal grills and screens will provide a more decorative cover for the project’s garage, with a mix of metal or glass railing protecting residential balconies. GWH Landscape Architecture will be the landscape architect, and BKF Engineers will be the civil engineer.
Crews cleared the site in late 2023 or early 2024 of six low-slung commercial buildings. The site is currently flattened.
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