$245 Million: Transbay Terminal Site is Really, Really Expensive - NBC Bay Area

$245 Million: Transbay Terminal Site is Really, Really Expensive

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    $245 Million: Transbay Terminal Site is Really, Really Expensive

    $235 million: That's the "price formula" real estate firms MetLife and Hines, along with the Transbay Joint Powers Authority, have assigned to the site of the new Transbay Terminal center— a record price for a San Francisco land sale. Proceeds will fund development of Pelli Clarke Pelli's tallest tower on the West Coast!!!. an approximately 1,000 foot-high vision in glass slated for the 48,000 square-foot parcel on the corner of Mission and First Streets; The current terminal will be razed in 2009, construction on the new one is set for 2010, and the first phase is set to open in 2014. The specs: 1.6 million square feet of office space with ground-floor, convenience retail; 3,500 new housing units (35 percent affordable); an elevated, landscaped pedestrian walkway and, et cetera, et cetera. Following environmental reviews, the sale is expected to close in 2009.
    · Curbed SF Reports: Transbay Terminal Plan Public Meeting Redux [Curbed SF]
    · Opinion Watch: San Francisco on Transbay Terminal Plan [Curbed SF]
    · Bye Bye, FiDi: Transbay Plan Shifts City Core to SoMa [Curbed SF]
    · Nabes Debriefed on New Transbay Terminal [Curbed SF]

    For more stories from Curbed SF, go to sf.curbed.com.