Day today, its a Highwater Mark its the High Technology part were extremely located well with the downtown area but basic reweve got the revenue costs at a high level across the buildings and look at the height as you go up a building to generate a overall net income value and then capitalize it theres a lot of assumptions when we look at the evaluation project we have to look at trades so it out put of the model as you look at the scale from the first floor to the 50 accounting floor were looking at similar buildings for new constructions in similar book Stores Locations for our conclusion. Those are numbers their the current context and reflective of the evaluation in San Francisco. Yeah. Real quick if you have any questions, ill be happy to answer them or address them later on thank you. Sir im going to turn it over to scott from the Transbay Joint Powers Authority Transbay Joint Powers Authority to talk about their funding program. Sir. Hi good afternoon scott with the Transbay Joi
What we called a concept validation phase where we would contrast the hok scheme with the work being developed by the architect pelly clark pelly to identify any discreptcies in scope and cost and to reconcile those before we moved into the scheme matic design. And so as we moved into the budget and to revise it there were a number of miles stones that we went through. May of 2008, we awarded the contract pelly clark pelly to be the architect and set forth the design schedule at that point which included the concept validation phase that i discussed which was going to be our first four months of work with the architects. Moving into the schemeatic design and completing the construction documents in 2011. In september of 2008, we completed the concept validation phase. Reconciling the pelly proposal, and the design proposal with the base line budget and. Hok scheme and we were able to incorporate a number of new ideas into the design of the Transit Center. Of course, the signature park
This is moving forward. But i wanted to give that background so the people in the audience and the public listening understood this is the culmination of many years. Thank you very much for that. Public comment portion is closed. And opening it up to commissioners. Commissioner sugaya. Yeah, i only have one question. Id like to take all these motions separately. Okay. Thats my comment. Commissioner antonini. Thank you. I have a few comments. First of all, i think this is a very elegant building and the other day i was running up Mission Street and wondering why i like 560 mission so much, which is commonly the tenant now is chase j. P. Morgan. And it gives a kind of greenish, rich greenish hugh, but actually much of that hue takes its color from the super structure. And the glass itself may be clear, im not sure. And these other buildings have tried to find the right glass and they almost always have glass that is not nearly as elegant as that building which probably has clear glass. I
About this project. I think it is a great honor to be here when this is happening. And to see the fruition of a larger planning process when this is moving forward. But i wanted to give that background so the people in the audience and the public listening understood this is the culmination of many years. Thank you very much for that. Public comment portion is closed. And opening it up to commissioners. Commissioner sugaya. Yeah, i only have one question. Id like to take all these motions separately. Okay. Thats my comment. Commissioner antonini. Thank you. I have a few comments. First of all, i think this is a very elegant building and the other day i was running up Mission Street and wondering why i like 560 mission so much, which is commonly the tenant now is chase j. P. Morgan. And it gives a kind of greenish, rich greenish hugh, but actually much of that hue takes its color from the super structure. And the glass itself may be clear, im not sure. And these other buildings have tri
The mel ruse. Phase two is the tunnel it connects the tunnel into king and the new Transit Center. On this map first of all, you see alignment 4. 3 miles going up targeted downtown i up to the new trait center another thing the need for the d t x extension a lot of people that dont use caltrain they dont see that but youll see on the slide the area half mark radius there are one hundred and 80 thousand jobs compared to other figures of jobs open fourth and king about a tenfold difference the other thing on the aerial part of the city this is a few years old the area north of market is built out not a lot of room to grow its a long term grossly goal to shift into the south of market neighborhood. You saw this slide earlier during adams presentation but it shows that were having tremendous success many buildings underway and another 8 residential buildings south of the district plan in the rincon point hear so the shifting development of south ward this is a major generate our of the rev