Feeding frenzy: new Transbay site could fetch $77 million

San Francisco Business Times

From the article:

The city is seeking a developer to take on one of the largest Transbay District parcels, a site approved for 740 housing units that will likely attract a who’s who of San Francisco builders.

Today the office of Community Investment and Infrastructure — the successor agency to defunct Redevelopment —issued a request for proposals for Block 8, a 42,000-square-foot property on Folsom Street between First and Fremont streets.

Responses are due February 26, 2014, and there will be a pre-submittal meeting on December 9th or this year.

The project is the fifth major development opportunity the city has put on the market as part of the Transbay District. In total, 10-acres of state-owned properties are being sold off to raise money for the Transbay Terminal, a transportation hub that boosters call the Grand Central Station of the West.

The RFP requires that 27 percent of the project be affordable to qualifying households, and ground-floor retail be included in the in multiple building types, which will include a 550-foot tower, townhouses and two podium buildings.

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