Demographic & Economic Base
Among the City's newer projects taking advantage of its central location and superior accessibility is Pacific Plaza. The first two phases of this award-winning mixed-use project feature: a) a 352,000 square foot, Class A, office building, b) a twenty-screen Century Theatres cinema complex, and c) about 23,000 square feet of street-level retail near the movie theatre complex. Phase III is planned for the development of more Class A office space and Phase IV is planned for a full-service hotel.
This project has been a marketing success with rapid leasing of the office space and the movie theatre achieving among the highest-grossing sales of Bay Area theaters. With its proximity to BART, Sam Trans, and San Francisco Muni, Pacific Plaza is a project that also encourages public transit and provides easy access to the San Francisco International Airport.
Pacific Plaza has won the following awards:
- November 2002: Metropolitan Transit Commission's Award of Merit
- March 2003: California Redevelopment Association's Award of Excellence
- April 2003: San Francisco Business Times: Best Project - Community Impact / Suburban
Daly City's retail sector continues to flourish as population growth adds to the already high demand in the area. Three major regional shopping areas are within the City: a) The Mission Street retail corridor, which borders San Francisco; b) Serramonte Center, an 860,000 square-foot regional shopping center located on Interstate 280; and c) Westlake Shopping Center, another regional shopping center of 620,000 square feet that is currently undergoing extensive renovation. Taxable retail sales are among the highest and fastest-growing of all metropolitan areas in the county. In total, Daly City boasts approximately 3.1 million square feet of retail space.
Medical services are another important aspect of the Daly City economy. Seton Medical Center is the City's largest employer with over 1,500 employees. This is an acute care hospital with 357 beds. Its reputation as one of the leading medical facilities in the country has encouraged the development of additional clinics and laboratories adjacent to or near the hospital. These include the Seton Medical Office Center, San Francisco Heart Institute, the Spine Care Medical Group, the San Francisco Neuro-Skeletal Imaging Center, and the Physician's Medical Center. Among the newest additions to Daly City's health care field is Kaiser Permanente with 130,000 square feet of medical offices and clinics in a new building at 395 Hickey Boulevard near Interstate 280.
A considerable amount of Daly City's economic growth is attributed to its young, skilled, and productive labor force. Six colleges or universities are within a ten-mile radius, and twelve more are within a 50-mile radius. According to the latest Census, nearly 78% of the City's population is over eighteen, only 12% are of retirement age and the median age is 35. Of Daly City's total labor force, approximately half are working in local jobs-a participation rate close to 50%.