Having paid the City $160 million less than they originally bid for the land upon which they are building the 1,050-foot Transbay Tower, Hines and Boston Properties are now balking at having to contribute around $450,000 a year for the maintenance of the adjacent 5-acre City Park they are building atop the Transbay Transit Center.
Apparently the development deal which the City cut with Hines didn’t include a clause for the park’s upkeep, but “somebody is going to have to maintain the park and it’s not going to be the city” according to Transbay Joint Powers Authority spokesman Adam Alberti.
∙ Proposed 1,070-Foot Transbay Tower Approved To Rise [SocketSite]
∙ Transbay Tower Site Transferred And Ceremonially Breaks Ground [SocketSite]
∙ Hines, Boston Properties lock horns with city over Transbay Tower park [Business Times]