Quote:
Originally Posted by webster
not the best research in that article. That site is designated for up to 4 FSR, which would equate to $251 per buildable, not $407 as stated in the article. Sounds like the guy at Colliers doesn't know what he's talking about. Still overpaid, but not as bad as it sounds....
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Under the existing zoning the site is what the article indicated. the Plan calls for 4 FSR, it does not say you are going to get it for sure. CM Bay, the purchaser must now spend upwards of a year + to rezone the site, and hope that their architect can mass 4 FSR and that the City actually approves that density on the site, just because its in the plan does not mean it will get that density. The site still has levels of contamination to boot.
The price was a stupid amount of money for a mediocre at best site.
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