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Port Commission grants 12-month extension to Broadway hotel developer to finalize financing
Summary
Commission unanimously approved a 12-month extension to the lease-disposition and development agreement with TZK Broadway LLC to allow the developer more time to secure financing and finalize lease terms for a planned hotel and public space at Broadway and the Embarcadero.
The Port Commission unanimously approved a 12-month extension to a lease-disposition and development agreement (LDDA) with TZK Broadway LLC, allowing the developer additional time to finalize financing and lease revisions for a hotel project at Broadway and the Embarcadero.
Ricky Titani, waterfront development project manager, told commissioners the project has been delayed by market disruptions since the LDDA’s original 2019 approval and the financial effects of the…
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