Quote:
Originally Posted by dr_strangelove
People make babies. In 15- 20 years when the terminal opens, I'm sure there will be more than enough demand for additional 1.5 mil sq. ft. of offices.
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The tower getting built has very little to do with the terminal. The terminal is being built, starting this year and, yes, it's supposed to be in operation in 2017. That is a project being built by a semi-autonomous government agency (the TJPA) which created the tower idea mostly as a source of funding (as a reminder, it's getting something like $300 million for the land and rights regardless of when the tower is built).
But the tower will be built when the private developer--Hines unless they sell the land and rights--thinks there's a market, and nobody knows when that might be.
Also, this tower is not the only office project in SF. Let us not forget that the foundation of 535 Mission is dug and there are other office projects with which the tower must ultimately compete. Regardless of babies, I wonder if there will ever be a tight enough office market in SF to entice construction of this tower unless every baby born in the city for a decade becomes a lawyer (it's law offices that fill a lot of SF office space).