Originally Posted by LionKing
Unless SOM can come up with another $250 millions, I think the deal is done! The Pelli building is primarily an office building and the Hines guys are using the class A office building proform rent to justify the whopping $350 million offer to the Transbay Authroity. Both SOM and Rogers buildings have some residential and retail elements in them so maybe they cannot compete with Hines on the numbers (because right now, class A office building rent in SF is pushing north of $70/ft.month and some deals have gone over $100/ft/mon). I wonder if the City will allow the other two contestants to re-submit their offer regarding $$ or is it too late for that?
Well the city is pretty adamant about having about 3,500 units, 35% of which have to be for lower income people (you know, those making under 100k). Pellis group was th eonly one of the three that didnt inlcude housing so we'll see how that plays out.