March 27, 2013
Transbay Tower Site Transferred And Ceremonially Breaks Ground
With a past due check for $191,816,196.57 delivered yesterday, the Transbay Joint Powers Authority has officially sold and transferred the 101 First Street site upon which the 1,070-foot Transbay Tower will rise at the corner of First and Mission to the development team.
The competition to develop the site was won back in 2007 with a bid of $350 million, roughly $160 million more than the team ended up paying for the site yesterday.
A ceremonial groundbreaking to celebrate (or mourn) the transfer is taking place today.
∙ Financial Partner Secured To Build San Francisco’s Transbay Tower [SocketSite]
∙ Proposed 1,070-Foot Transbay Tower Approved To Rise [SocketSite]
∙ Transbay Land Cost Cut Another $50 Million For Shrunken Tower [SocketSite]
∙ Rising Construction Costs Getting Under The Transbay Center's Skin [SocketSite]
First Published: March 27, 2013 12:30 PM
Comments from "Plugged In" Readers
Too bad it will no longer be the tallest skyscraper on the west coast...
Posted by: Alex at March 27, 2013 6:11 PM
Tallest buildings don't matter anymore. Any backwater can put up a supertall but that doesn't make a city.
Posted by: James at March 28, 2013 9:05 AM