October 9, 2009
Three To Five For The Transbay If The Feds Delay Until March
"An unexpected delay in funding for the new Transbay Terminal could set construction plans back [three to five] months and cost the project another $100 million."
∙ Transbay funds delay may have $100M price tag [San Francisco Examiner]
∙ Transbay Terminal: Banking On Stimulus Funds And Opening In 2015 [SocketSite]
First Published: October 9, 2009 8:30 AM
Comments from "Plugged In" Readers
they're just bluffing to get their money faster (not that I blame them).
Posted by: anonn at October 9, 2009 9:05 AM
the rate the dollar's dropping...in a few months inflation could knock this baby into the stratosphere.
Posted by: Rincon Hill Billy at October 9, 2009 9:17 AM
I guess this eventually will get built but I would not be surprised to see other delays coming.
For sure I don't see that 75 story condo tower being built anytime soon. No market for the units and unlikely to be one for a decade or more.
Does anyone know - is the condo tower written in stone. Could the development planned atop the Transbay Terminal be redone in light of economic conditions and the collapse of the condo market?
Posted by: Gil at October 9, 2009 9:27 AM
Hey Gil, what condo tower are you referring to? The Pelli tower is proposed to be commercial, no? (Not that the SF commercial market is doing any better than the residential.)
Posted by: mike at October 9, 2009 9:47 AM
I may be wrong on this but I thought I read somewhere that the tower atop the Terminal could go either way. Commercial or residential or a mix.
In any case if it were planned as soley commercial like who would fill up the over 1 million sq. ft. of space?
It's going to take years and years to absorb all the empty office space in the City. Any devloper would be crazy to go ahead even with a prominently designed structure that nonetheless will sit empty for a long time.
That is why I am curious if this plan is set in stone or if it can be revisted and redone altogether?
Posted by: Gil at October 9, 2009 10:46 AM
The Transbay Tower was proposed as an office building. I really think it should be a mixed use building (hotel, condo, commercial) as it would have a much better chance of moving forward in the coming years. It will be difficult regardless but I hope it happens...our skyline could use a new focal point.
Posted by: spitpalm at October 9, 2009 1:59 PM