Kilroy Realty will take its concerns about a nearly $6.4M Transit Impact Development Fee for its The Exchange on 16th project in Mission Bay to San Francisco's Board of Appeals this week.
Kilroy recognizes the importance of transportation and infrastructure improvements in Mission Bay, but argues the $6.4M fee was "erroneously calculated and imposed" and that no TDIF is due, according to SocketSite. The Exchange on 16th will have 720k SF of Class-A space and was designed with walking, biking and transit in mind. The site is in lease-up mode, with a number of tenant prospects.
The city's response is that, while fees were limited in the early years of the Mission Bay South Plan, they have been authorized since 2011. The board of appeals meets on Wednesday. [SS]
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