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OCII reports Block 4 development negotiations; Hines requests time to rework deal
Summary
OCII staff told the commission that developer Hines asked for time to revisit financing and phasing for the 681‑unit Transbay Block 4 project amid construction cost escalation and higher interest rates; staff will return with an update between January and March 2023.
Executive Director Thor Kozlowski updated the commission Dec. 6 on negotiations over the Transbay Block 4 project, a 681‑unit development with 45% planned affordable units that the commission approved in June 2022.
Kozlowski said developer Hines informed staff in August it could not progress on Parcel F and cited market conditions — including construction cost escalation and…
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