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.

Comments from Plugged-In Readers

  1. Posted by Alex

    Too bad it will no longer be the tallest skyscraper on the west coast…

  2. Posted by James

    Tallest buildings don’t matter anymore. Any backwater can put up a supertall but that doesn’t make a city.

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