Wednesday, September 29, 2010

Developer scraps S.F. Whole Foods project because of city fees - San Francisco Business Times:

http://www.mingzhao.net/article/New-Imaging-Technique--Toward-Spinal-Cord-Regeneration-.html
Project manager Mark Brennan said the family developmentf business would have had to paybetweenn $5 million and $6 million in city fees just to pull permitsw on the development, which was to include 62 apartmentd and a 34,000 square foot Whole The development fees cover everything from an affordable housing to San Franciscio Unified School District to the Publivc Utilities Commission. “It’s prohibitive,” said Brennan. "W e just took a look at the markey and our own budget and every time we came up with a the feeswere prohibitive.
” Brennan blamec the city's rigorous 32-month entitlement procesw that started in February of 2006, when the economgy was roaring, and did not end until October 2008, when the globapl financial crisis was in full swing. “This project shoulrd have started ayear ago. It’s he said “If this had started when it was supposec to start we would have already turnedf the shell over toWhole Foods. We wouldf be fine. But the financing will be difficult toget now.
” Brennan said his family is in talks with Whole Foods about possibly building out a smaller specialty grocery store in the existing 23,600 square foot but that no deal has been The building was home to Cala Foodd until the store closed in May of 2006.

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