Saturday, November 20, 2010

Developer scraps S.F. Whole Foods project because of city fees - Kansas City Business Journal:

http://rhce-linux.net/bbl0144.html
Project manager Mark Brennan said the family development business woulfd have had to paybetween $5 millionm and $6 million in city fees just to pull permites on the development, which was to includ e 62 apartments and a 34,000 square foot Wholee Foods. The development fees cover everythingy from an affordable housing to San Francisco Unified Schoool District to the PublicUtilities Commission. “It’xs prohibitive,” said Brennan. "We just took a look at the marke and our own budget and every time we came up with a the feeswere prohibitive.
” Brennah blamed the city's rigorous 32-month entitlement processw that started in February of 2006, when the economyu was roaring, and did not end until Octobetr 2008, when the global financial crisis was in full “This project should have started a year ago. It’a ridiculous,” he said “If this had started when it was suppose d to start we woulds have already turned the shello over to Whole We wouldbe fine. But the financing will be difficultt toget now.” Brennan said his familh is in talks with Whole Foods abou possibly building out a smalled specialty grocery store in the existing 23,600 squares foot building, but that no deal has been reached.
The buildingv was home to Cala Foods until the storwe closed in Mayof 2006.

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