The land fronting the proposed 333 Harrison Street development has been valued by the city at $6,000,000. And the budget to develop the parcel into the proposed Rincon Hill Park has been estimated at an additional $1,900,000.
Subject to $2,140,471 in impact fees for the development of 248,892 new occupiable square feet, the sponsors of 333 Harrison Street are requesting $1,568,176 of the fees be “waived” as in-kind partial payment for the acquisition and development of the land.
How the City will close the $6,331,824 gap necessary to acquire and develop the Park Land has yet to be determined, but the $22 million in proposed Rincon Hill Area Infrastructure Financing District bonds we mentioned last week are currently high atop the list of hopes.
∙ A Plugged-In Reader’s 12 Notes On The “PC” Approved 333 Harrison [SocketSite]
∙ DO NOT READ THIS Unless You Really Need To Know Re: 333 Harrison [SocketSite]
∙ Energy Audits And Twenty-Two Million In Rincon Hill Area Bonds [SocketSite]
∙ 333 Harrison Street Impact Fee Waiver [sfplanning.org]
