IQHQ’s RADD (Research and Development District) is currently under development along the Downtown San Diego Bayfront south of Broadway in between Pacific Highway and Harbor Drive. The 8 acre waterfront project will consist of five buildings that will include labs, offices, and retail. The entire project will be 1,700,000 sq. ft. and is estimated to cost around $1.5 billion. IQHQ acquired the land in October 2020 and began construction the day after they closed. With their current timeline, the RADD is set to open in 2023.
RADD will attract top tier biotech companies to downtown San Diego, creating many jobs and revenue for local business and the city. A media release says that the project promises to contribute more than 4,000 jobs, $50 million in annual taxes and fees, and $15 billion in economic benefits. The development is located across the street from several high-end Downtown San Diego condominiums like Park Place, Pacific Gate, Electra, Bayside and Savina. These and other buildings in the Columbia District will benefit the most from this development as high-salaried employees will likely want to live in close proximity to their offices.
Little Italy San Diego and other Downtown San Diego neighborhoods will also benefit from this development as well as the Horton Plaza redevelopment project in the Gaslamp District which will also bring tech jobs into Downtown.
