Healthcare is about the only bright spot in the American economy... So what does that mean for San Francisco?

There is something extraordinary happening in our city. If it were occurring in any other US burg you would certainly have read about in the newspaper or seen something about it on TV. The Mayor would be talking about it endlessly and civic and community leaders would be promoting it at every turn. Maybe it's because the only equivalent situation is in Houston, Texas and San Franciscans would be loathe to be compared to that lovely yet very different city.

Maybe. But a better answer is that they just don't think its a big deal.

Mission Bay and the new UCSF biomedical campus are a very big deal. Although the second phase of Radiance at Mission Bay and 2 commercial buildings have been put on hold (the latter even had tenants signed up), new residential, research, university and biotechnology buildings continue to rise despite fiscal uncertainty and the general economic slow down.

You may ask, why ? Because this is where the future is being created.

The next big breakthroughs in medicine--be they genetics, robotics, protein science or something we can't even fathom yet-- are being researched in Mission Bay and will be discovered or evolve here. That very large building on the UCSF biomedical campus isn't named Genentech Hall for nothing. In less than 15 years there will be three new hospitals here treating women, children and cancer.

It is generally understood that our new president is going to repeal federal legislation that currently hinders stem cell research. This coupled with the synergy of biotechnology, research and health care will drive investment and innovation, bringing people to San Francisco from all over the world. In the future when someone needs a new heart, hand or head, they will most likely be booking tickets to SFO.

This all started about 10 years ago when the master plan for Mission Bay was approved by The City. The linchpin of this plan is The Beacon (initially known as Mission Place). Completed in 2004, it is home to condominiums, Safeway, Borders and a Burger Joint. It is also home to The California Center for Regenerative Medicine (CERM). A state ballot initiative created and funds the organization that has 3 billion dollars at its disposal and a mission to invest in biotechnology. It would be hard to duplicate the conditions that are driving this investment and development anywhere else. Put it all together and its pretty compelling: This new neighborhood is poised to be the global center for the next generation of biomedical and health care professionals.

It all sounds like exciting stuff, future stuff. But it's happening right now. If you want to see what the 21st century holds for San Francisco, take a drive or hop on the T line and head over to Mission Bay.

It might not look like much on the south side of Mission Creek right now aside from the great view, but people said the same thing about a little town called Yerba Buena in 1848.