Located mid-block between First, Second, Howard and Natoma Streets, across from San Francisco’s Transbay Transit Center rising, Transbay Parcel F is zoned for building up to 750-feet in height and includes the potential for connecting any development on the site to the Transit Center’s 5.4 acre rooftop park by way of a pedestrian bridge over Natoma Street.
And rather than selling the Parcel F through a drawn-out RFP process, including the submission and evaluation of both quantitative and qualitative points (such as architecture and design), as has been the case for every other Transbay site, the Transbay Joint Powers Authority will hold a live auction for the parcel on September 2nd.
The TJPA will collect sealed written bids from pre-qualified bidders at the end of August. The highest written bid will be revealed at the time of the auction. And then all bidders who had submitted a written offer will be allowed to orally raise their bids.
The highest bid is slated to be approved by the TJPA’s Board the following week, payment will be due by the end of the year, and the parcel is expected to be transferred to the buyer in December 2016.
At least two-thirds of any development on Parcel F, which has the potential to support up to 750,000 square feet of building, is designated for commercial use per the City’s approved Transbay District Plan.