Quote:
Originally Posted by mthd
I think one of two things will happen here :
a) they will quickly propose and build a modest office building which will not come anywhere near the height limit.
b) they will get a lot of opposition from the city to a building on this site which is too short and the site will sit as is until a developer who wants to put residential or residential/hotel comes along. the site is simply too small to support a really tall office building.
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I do not know if the developer is already aware of this, but they should expect the City to react. An approximate 60% reduction in project size is obviously very drastic for such a prime location. It is going to be interesting to see how this situation plays out. In the meantime, the developer probably feels that it is better to proceed as is, to try to catch the current market wave.
Is there enough time for the developer to reach final green certified design, EIR, and approvals before the City goes into "Beauty Contest" mode? How much time does the developer expect to save to complete the construction, if the project can be approved at 340,000 square feet, instead of waiting about two years for the Transbay upzoning to be approved?
How was One Rincon Hill upzoned from its orginal proposals? How long did it take, etc.?