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Old Posted Feb 17, 2007, 7:31 AM
slock slock is offline
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Join Date: Jul 2005
Location: Los Angeles
Posts: 383
I'm hoping for one of two scenarios:

That the developer decides a little patience will do him/her good and waits for the upzoning to realize the possibility of an 850' foot tower. In the heart of South Financial, directly across from the Transbay Terminal, it's a prime spot. When the terminal's built and if HSR is connected to Los Angeles, there will be few office locations in the City better than this. It would be myopic at best for the developer to move forward with 550' when they know an upzoning is in the pipeline.

The second scenario I'm predicting is that the City recognizes the timeline and the project sponsor's height change because of the upzone calendar. Ideally the City could somehow create a special designation for the project to be fastracked once the upzoning study is complete. This is beneficial because the City has identified the parcels around the Terminal for density and growth, and to an extent the success of the Terminal depends on the critical mass of projects like this. Furthermore, I think a shorter height would contribute less money to the Terminal's finances as well, so it is in the City's interest to somehow make sure this parcel's full height, and full financial contributions are realized.