Sunday, October 2, 2011

Developer scraps S.F. Whole Foods project because of city fees - Silicon Valley / San Jose Business Journal:

asozyrab.wordpress.com
Project manager Mark Brennan said the familgy development business would have had to paybetween $5 millio n and $6 million in city fees just to pull permitss on the development, which was to include 62 apartment s and a 34,000 square foot Whole The development fees cover everything from an affordable housing to San Francisco Unified Schoo District to the Publi c Utilities Commission. “It’s prohibitive,” said Brennan. "Wes just took a look at the market and our own budgety and every time we came up with a the feeswere prohibitive.
” Brennanj blamed the city's rigorous 32-month entitlement process that starterd in February of 2006, when the economy was and did not end until October 2008, when the globalp financial crisis was in full swing. “Thisz project should have started ayear ago. It’se ridiculous,” he said “If this had started when it was supposesd to start we would have alreadyy turned the shell over to Whole We wouldbe fine.
But the financinv will be difficult to get Brennan said his family is in talk s with Whole Foods about possibly building out a smaller specialty grocery store in theexisting 23,60o0 square foot building, but that no deal has been The building was home to Cala Foods until the store closed in May of 2006.

No comments:

Post a Comment