Shorenstein Proposal  Revision?? 

According to the June 30-July 6 San Francisco  Business Times, soaring cost  estimates could force Shorenstein Properties to seek  more office square footage  than originally proposed at Piers 27, 29 and 31,  located across The  Embarcadero from Telegraph Landing..
 
 Having undertaken a more comprehensive engineering  study of under-pier  repairs than the Mills Corp., the piers' previous  developer, Shorenstein Properties  now claims that the cost of repairing and  retrofitting the undersides of the  piers has doubled the Mills' estimate.  Costs now
estimated at between $60 and  $65 million. And that's not including the costs of  construction topside.
 
Says the Business Times: "Shorenstein and equity management firm Farallon Capital Mangement LLC both plan to move their  corporate headquarters to the  piers, which will absorb 150,000 square feet of  waterfront office space. Because of   construction costs, sources anticipate that the  project may require another  250,000 square feet to make the project pencil,"
 says the story by J. K. Dineen of the weekly's staff.    

                                                 – submitted by Jerry Adams, Bldg. 2