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Planning Commission grants extension for 1 Rincon Hill Phase 2; sponsors say financing in place
Summary
The commission unanimously approved an extension of the performance period for 1 Rincon Hill Phase 2, allowing the developer to pull permits and begin construction; the sponsor told the commission financing and a guaranteed maximum-price contract are in place.
The Planning Commission unanimously approved a requested extension for the performance period of 1 Rincon Hill Phase 2 on May 24, allowing the project sponsor to obtain permits and proceed toward construction. Staff characterized the item as a time-extension request for a previously entitled project; the public hearing was brief and included both supportive remarks and objections from nearby owners.
Project sponsor Michael Krasier (Urban Pacific) reported…
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