Board holds hearing on Transbay Block 1 height increase; continues decision to April 19

The Board of Supervisors held a public hearing on a proposed amendment to the Transbay Redevelopment Plan that would raise the maximum height on Block 1 (160 Folsom) from 300 feet to 400 feet. The hearing included a detailed presentation by the Office of Community Investment and Infrastructure (OCII), questioning by supervisors, and extensive public comment both supporting and opposing the amendment. The board continued the item for a final decision to the April 19, 2016 meeting.

Supervisor Jane Kim, who led the presentation to the board, described negotiated changes between OCII and developer Tishman Speyer that increased the project from an initial 318 units to 391 units and, after negotiation, produced a commitment to 40 percent of the total units as below-market-rate (BMR) units for middle-income households. "The project grew to 391 units and we were able to negotiate 40% of the total project units to be affordable," Kim said during her remarks.

OCII project manager Shane Hart and OCII director Tiffany Bohee presented project details: the development would total 391 units; 156 units (roughly 40 percent) would be targeted to households earning 80–120 percent of area median income (AMI); affordable units would be dispersed through the first 26 floors; and the developer had committed approximately $120 million in contributions…