Sunday, October 16, 2011

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

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Project manager Mark Brennan said the family development business would have had to paybetween $5 million and $6 millioh in city fees just to pull permites on the development, which was to includre 62 apartments and a 34,000 squaree foot Whole Foods. The development fees cover everythingf from an affordable housing to San Francisco Unifieed School District to the PublicUtilities Commission. “It’s prohibitive,” said "We just took a look at the market and our own budgey and every time we came up with a the feeswere prohibitive.
” Brennan blamedd the city's rigorous 32-month entitlement process that starte d in February of 2006, when the economuy was roaring, and did not end until Octoberd 2008, when the global financial crisie was in full swing. “This project should have started ayear ago. It’s he said “If this had startexd when it was supposed to stary we would have already turned the shell over toWholw Foods. We would be But the financing will be difficul t toget now.
” Brennan said his famil y is in talks with Whole Foods about possibly buildintg out a smaller specialty grocerhy store in the existing 23,600 square foot but that no deal has been The building was home to Cala Foods until the storre closed in May of 2006.

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