Prologis (PLD) To Add 4000 Homes with Caltrain Site Revamp

Prologis, Inc. (NYSE:PLD) is one of the most undervalued stocks. Prologis recently indicated its intention to file redevelopment plans later this year for the Caltrain railyards located at Fourth and King Street. The REIT is proposing a seven-million-square-foot mixed-use project that could accommodate between 1,500 and 4,000 residential units.

As reported by the San Francisco Business Times, if fully executed, the development would represent one of the most significant housing initiatives near a major transit corridor in San Francisco.

The Business Times noted that the variability in potential housing units offers Prologis the agility to align the project with future demand. Although formal approvals are unlikely before 2027, planning commissioners are already highlighting the importance of affordability.

A large logistic facility within the industrial real estate sector.

Prologis Vice President Genevieve Cadwalader commented that residential development will be a focal element in the transformation of the railyards into a high-density, transit-oriented urban district. This project holds the potential to be San Francisco’s second most densely developed transit-centric neighborhood, following the Transbay district.

Prologis, Inc. (NYSE:PLD) is a global REIT focused on high-barrier, high-growth markets in 20 countries. Prologis leases modern logistics facilities to a diverse base of customers across two major categories – business-to-business and retail/online fulfillment.

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