Boston Properties, Hines to build tallest U.S. West Coast tower

Tue Oct 23, 2012 5:28pm EDT

* 61-story office tower to be built in central San Franciso

* To be built adjacent to Transbay Transit Center

Oct 23 (Reuters) - Boston Properties Inc and privately held Hines Development said on Tuesday they have formed a joint venture to build a 1,070-foot-tall San Francisco office building that will be the tallest skyscraper on the U.S. West Coast.

The 1.4 million square-foot Transbay Tower will be built adjacent to the Transbay Transit Center, a $4 billion transportation hub now under construction that will connect 11 area transit systems as well as long-distance transport.

The developers said they expect to buy the land for the 61-story building from the Transbay Joint Powers Authority for $190 million by the end of the first quarter of 2013. Hines and Boston Properties will each have a 50 percent interest in the venture.

The companies did not disclose the total cost of the project, and company representatives did not immediately return phone calls.