Socketsite with an update on the strategy for accomplishing the affordable housing component of the project, in the hopes of getting it going a little quicker (or at least more reliably)
Quote:
F4 Transbay Partners is now seeking approval to pay an enhanced in lieu fee of around $45 million to the City’s Office of Community Investment and Infrastructure (OCII) to fund the development of affordable housing in the District rather than include any affordable housing for the tower either on or off-site, a proposal which is slated to be conditionally approved by the Commissioners of the OCII this afternoon.
At the same time, building permits for the Parcel F tower have been requested and are close to being approved.
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