In the future, the Caltrain commuter rail system will stop at the transit center, as will California's long-promised high-speed rail system, which would connect the city with Los Angeles. Located in a colossal white building that snakes its way through the city's downtown South of Market district, the transit project was almost two decades in the making and was designed as a much-needed improvement to San Francisco's notoriously clogged transportation systems.īus service through the transit center is also now back up and running after remaining closed, with routes on eleven bus lines stopping at the transit center. San Francisco's highly-anticipated Salesforce Transit Center and the new park located on its roof are officially reopened to the public after the discovery of two cracked beams closed the center just six weeks after opening in September 2018.
This collaborative profit-sharing initiative is easily replicable and a prime example of how circular business models can fund public spaces and sustainable urban development.Account icon An icon in the shape of a person's head and shoulders.
Despite the low percentage given to the project, it provided enough support capital to ensure the park could remain public and enjoyed by all.
However, the project share was relatively small, and the property owners would gain most of the profits. Such a redevelopment and feature in any part of a city, regardless of the exact locality, undoubtedly adds significant value to nearby properties.ĭevelopers struck a deal with owners to share a certain percentage of this rise in property value. Except proposed an innovative profit-sharing scheme to help fund the park, encourage cooperation and actively involve nearby residents and developers with the complex.įirst, properties surrounding the park were valued by an independent and well-established third party and compared to future values - projected to five years after its completion.
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