San Francisco’s Board of Supervisors has officially heard the public testimony for the proposed amendment to the City’s previously approved Transbay District Plan, an amendment which would raise the height limit for Transbay Block 1, a block which is currently only zoned for development up to 300 feet in height but upon which Tishman Speyer has drawn plans for a twisty 400-foot tower to rise at the corner of Folsom and Spear.
In exchange for the spot upzoning, which would allow Tishman to build an additional 9 stories and 73 condos above the 30th floor of their proposed ‘Bay Tower’ at 160 Folsom Street, the development team has agreed to increase the total number of Below Market Rate (BMR) units in the Block 1 development from 112 (35 percent of the total) to 156 (40 percent overall).
The majority (30) of the additional 44 BMR units would, however, be allowed to be priced as affordable to those making up to 120 percent of the Area Median Income (AMI) which is currently $90,500 for an individual or $103,400 for a household of two.
And as we first reported last year, there is a bit of organized neighborhood opposition to the additional height.
Originally scheduled for this week following its public hearing, the Supervisors’ vote on the amendment has been continued to next week.
UPDATE (4/26): San Francisco’s Board of Supervisors approved the amendment and increase in height.