Quote:
Originally Posted by wburg
Neither the Kaiser/Railyards nor the Mohanna project need to do an EIR (or the Canopy Hotel), they're covered by the governing specific plans (Railyards and Central City) but apparently the 19J project isn't leasing out many of its more expensive units (the 275-300 sf units renting for $1000-1500 rented immediately, the 400-900 units renting for $2500-4000 not so much) which supposedly complicates things for 19J. Kaiser, we'll see what happens but environmental review isn't the issue so much as the finances of the Railyards; I'm not sure how much effect the MLS stuff has on that. Demo was completed for the 800 K/L project so presumably that will get moving soon, although I know folks here aren't as enthusiastic about midrise projects.
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That's interesting about the Mohanna project, their 19J project listed what they were anticipating asking for rents right before construction and they were significantly less then what they actually ended up asking, so they hit a big windfall with rents on that project and it should be very profitable. I wonder if its the huge increase in the cost of building materials that is really the problem now.
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