Bay Area/ San Francisco/ Real Estate & Development
Published on April 11, 2016
Supes To Decide Fate Of 400-Foot Spear & Folsom Tower Tomorrow [Updated]Renderings: Perry Architects, Inc.

At 3pm tomorrow, the Board of Supervisors is holding a public hearing that will decide the future of 160 Folsom St., where Tishman Speyer has proposed to construct a 400-foot tower with a twisting shape.

As we've previously reported, the site is currently zoned for construction of up to 300 feet. In exchange for an extra 100 feet, Tishman Speyer has agreed to provide 40 percent affordable housing within the developmentā€”a tradeoff that has put some Rincon Hill residents on the offensive.

Both the Planning Commission and the Commission on Community Investment and Infrastructure, which oversees redevelopment of the Transbay Center District, have approved the height increase.  

According to Curbed SF, the Board of Supervisors' Land Use Committee voted last week to continue the matter, after District 3 Supervisor Aaron Peskin questioned why the legislation had been fast-tracked ahead of the Affordable Housing Density Bonus Program.

The full board is now scheduled to hear the legislation at 3pm tomorrow, April 12th, in the City Hall Legislative Chamber, Room 250. A copy of the hearing agenda is available here, and public comment will be taken ahead of the vote.

[Update, 4/13] Following Tuesdays' two-hour public hearing, the board voted to continue the item to the next board hearing Tuesday, April 19th. The Chronicle notes that the deal seemed to have broad support during yesterday's discussion, although supervisors London Breed, Malia Cohen and Scott Wiener raised concerns, respectively, about who will have access to the affordable housing onsite, OCII's reasoning for adding 100-feet and the $19.2 million taxpayer subsidy (the value of the parcel) OCII is offering to fund a portion of the affordable units.