Prometheus Eyes 180-Unit Apartment Complex in San Mateo

Prometheus Real Estate Group wants to build 181 apartments on an infill empty lot in San Mateo.

The locally based developer led by Jackie Safier filed plans to build the six-story complex at 715 North San Mateo Drive, the San Francisco Business Times reported. It would replace an empty lot once occupied by a car dealership.

Plans for the 1.2-acre lot call for 181 apartments, mostly one-bedrooms between 518 and 1,400 square feet, including 18 set aside as affordable housing.

The project would have a rooftop deck, sky lounge and fitness center.

The white and charcoal complex, designed by San Francisco-based Winder Gibson, would have large vertical floor-to-ceiling windows, and inset balconies, according to a rendering.

Prometheus filed the project under Senate Bill 330, which streamlines approvals for qualifying residential and mixed-use developments. It was deemed incomplete initially late last year, and accepted in January.

The project site is on the north side of town, at a juncture between single-family neighborhoods and a cluster of auto dealerships. Its redevelopment reflects the city’s broader shift toward higher-density rental housing, according to the Business Times.

The Peninsula city is experiencing a housing boom comparable to the postwar building frenzy of the 1950s and 1960s, city officials say.

Since late last year, San Mateo has received proposals for nearly 3,200 new housing units — the most rapid influx in decades. Much of this growth is focused on commercial corridors such as El Camino Real and areas near transit, according to the Business Times.

Prometheus, founded by Sanford Diller in 1965, has grown into one of the Bay Area’s largest private multifamily landlords, with more than 13,000 apartment units from the Bay Area to Seattle, according to its LinkedIn page.

In San Mateo, the firm’s previous developments include a 64-unit apartment and office complex for the Prometheus headquarters at 303 Baldwin Avenue, according to the newspaper.

— Dana Bartholomew