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Cosmont market study finds high incomes, low multifamily vacancy; Foster City council accepts interim report
Summary
A consultant presented an interim real‑estate market analysis showing very high household incomes (about $250,000), strong educational attainment, 20,000 daytime jobs, a 600,000‑sq‑ft retail footprint and a roughly 15% office vacancy (improving); the council received the report and directed staff to proceed with community workshops and opportunity‑site work.
Cosmont Companies presented the first‑phase findings of a comprehensive real‑estate and economic market analysis to the Foster City City Council on April 20. The council voted to receive and accept the interim report and asked staff and the consultant to continue work on opportunity‑site identification and stakeholder engagement.
Community Development Director Sofia Mangalam introduced the update and said the presentation reflects an interim data set; Cosmont’s president, Ken Hira, summarized demographic and market findings. Hira said Foster City…
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