Flower Mart's Future Revealed
The best flower market in the US (according to Martha Stewart Living, that is), might replant its roots underground. At a press conference at the SoMa site today, Kilroy proposed a daring plan to commit $80M to erect a new mart underground so that it wouldn't displace the 58-year-old mart while the firm builds offices on top. The new mart is slated to be done in 2018, sized a little smaller than the current one (115k SF vs 135k SF there now). The plan comes with opposition, however, from former Mayor Art Agnos, who plans to block the proposed project via a ballot measure. Kilroy is offering current vendors five-year leases and their current low rents in the new space and will foot the bill for moving costs.