Skip to comments.[San Francisco] MTC building price soars to $218 million
Posted on 11/29/2012 2:09:40 PM PST by Lonely Bull
(11-29) 12:56 PST San Francisco -- Things are looking up for the Metropolitan Transportation Commission's controversial plan to transform the old tank factory and postal facility at 390 Main St. into a suitable place for regional agencies to cohabit - particularly the price tag.
The estimated cost now stands at $218 million, which is $38 million higher than the original estimate from July 2011 but $51 million more than the most recent estimate, adopted in November 2011. (The projected cost fell after the agency bought the building at a lower price.)
(Excerpt) Read more at sfgate.com ...
Kalipornia property prices are going up? While their economy crashes?
How does that work?
Or is the government the buyer and the price doesn’t matter because its not their money?
Another “Big Dig: in the making.
No, just more government waste happening. That property is prime real estate a few blocks from the waterfront amidst fancy restaurants and tourist atteactions (Giants AT&T Park is nearby). I know because I worked a couple blocks from there for many years. They could have chosen other sites a mile away and easily halved the cost. But these administrators will not be denied their luxury digs and fancy lunches.
Mark my words,- it’ll be a cool half billion before the ribbon is cut.