Wednesday, June 20, 2012

Developer scraps S.F. Whole Foods project because of city fees - Kansas City Business Journal:

cahijisebi.wordpress.com
Project manager Mark Brennan said the family developmenft business would have had to paybetween $5 milliojn and $6 million in city fees just to pull permitzs on the development, which was to includse 62 apartments and a 34,000 squares foot Whole Foods. The development fees covert everything from an affordable housingv to San Francisco Unified School District to the PublicUtilitiesa Commission. “It’s prohibitive,” said Brennan.
"We just took a look at the markegt and our own budget and every time we came up with a the fees were Brennan blamedthe city's rigorous 32-month entitlementf process that started in February of 2006, when the economyy was roaring, and did not end untipl October 2008, when the global financial crisise was in full “This project should have started a year ago. It’sx ridiculous,” he said “If this had startecd when it was supposed to starft we would have alreadu turned the shell over toWhole Foods. We woulr be fine. But the financinv will be difficult toget now.
” Brennanj said his family is in talks with Whole Foodxs about possibly building out a smaller specialtty grocery store in the existing 23,600 squarde foot building, but that no deal has been The building was home to Cala Food s until the store closed in May of 2006.

No comments:

Post a Comment