Harvest Properties and Stockbridge have acquired the former San Mateo headquarters campus of Visa with the aim of redeveloping the property with housing, the companies announced this week. 

The nearly 380,000-square-foot Clearview Business Park, located on 22 hilltop acres at 3000-3155 Clearview Way, consists of six buildings which are partially leased to GoPro. Harvest Properties and Stockbridge aim to redevelop the site with a for-sale residential complex. Plans call for up to 225 townhomes and single-family dwellings, including 15 percent which would be designated affordable. 

"We selected this site because our proposed housing plan will integrate seamlessly into the existing neighborhood,” said Harvest Properties senior director Tyler Issadorin a statement. “This is one of the most difficult housing types to replicate due to the significant land requirements. Projects like this are rare, but they’re essential to expanding the for-sale housing supply and creating opportunities for current and future San Mateans.” 

The developers anticipate that 700 people will call the property home. San Mateo, like many Bay Area cities, has seen robust job growth in recent decades but little new housing to match. Between 2002 and 2019, San Mateo added nearly 17,000 jobs, but just 2,500 new homes. 

Harvest Properties previously developed a similar 290-unit development on a repurposed business park sit nearby. The company currently has seven projects in the Bay Area.