Prado Group Expands Scope of SF Medical Center Redevelopment
The Prado Group, which acquired the former California Pacific Medical Center (CPMC) campus in San Francisco for $50 million in 2022, is rethinking the redevelopment plans that were devised by a prior development team. The San Francisco Chronicle reported Friday that Prado will seek the city’s approval to introduce a separate, 232-unit senior living project to the redevelopment plan that was not part of the plans approved in 2020.
The old plan would have transformed the vacant, 700,00-square-foot CPMC campus at 3700 California St. into 273 new homes spread across more than two dozen buildings. Prado’s new plan, if approved, would increase the number of homes to 320 and the number of townhomes to 15. However, the size of the project’s residential component would shrink from about 434,000 square feet to about 355,000 square feet.
“There have been a number of rumors that have floated about why the prior project did not go forward,” Prado president, CEO and co-CIO Dan Safier told a community meeting. “The approved plans were not feasible in their current condition and the current environment.”
Safier told the Chronicle that his team has been working on the redesign for nearly a year. The design changes must be approved by the city’s Planning Commission, and Safier said last Tuesday’s community meeting “starts the clock towards a public process.”
The team hopes to win approval for the new plan by September or October, with groundbreaking expected sometime in 2026 or 2027.
