“Developers who construct skyscrapers and other buildings near the new Transbay Terminal in downtown San Francisco will have to pay up to $850 million in extra fees over a 20-year period, according to a city proposal announced Thursday.
The area will allow for towers taller than what is permitted downtown – including one building that could be up to 1,000 feet tall….The surcharges of up to $35 a square foot would be in addition to a package of downtown-only fees for things such as public transit, affordable housing and wastewater treatment.”
“The fees would be applied to all new developments, not just skyscrapers….Given the city’s lengthy planning and approval process, it is unlikely that any developer would obtain permission to build before 2011.”
∙ Extra fees for new transit district [SFGate]
∙ San Francisco’s Transbay Terminal: Website And Community Meeting [SocketSite]
∙ San Francisco’s Transit Center District Plan: EIR Notice Of Preparation [SocketSite]