Massive Edgemere Commons Site Acquired by Tishman Speyer

A total of ten of the 11 building parcels spread across the 9.34-acre development site located on the former Peninsula Hospital complex has been acquired by Tishman Speyer in an acquisition valued at about $90 million. The project dubbed Edgemere Commons was originally announced by The Arker Companies but has made little progress over the past 2-years. Upon full construction completion the entire complex will comprise 2.2 million square feet offering a mix of 2,050 residential units, 38,000 square feet of public space, 77,000 square feet of community space, and neighborhood-oriented retail including a supermarket.