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Supervisors approve waiver to spur downtown office-to-residential conversions with 7 million‑sq‑ft cap
Summary
The Board passed an ordinance on first reading to waive certain development impact fees for targeted downtown office‑to‑residential conversion projects, adding a 7,000,000‑square‑foot cap to limit total exemptions.
The San Francisco Board of Supervisors on Feb. 25 passed on first reading an ordinance to waive certain development impact fees for a targeted set of downtown office‑to‑residential conversion projects, with a 7,000,000‑square‑foot cap on the total square footage eligible for the waiver.
The measure, introduced by Supervisor Matt Dorsey and supported by the mayor’s office and land‑use allies, aims to lower costs that have stalled conversion projects and to accelerate the downtown housing supply. "Underutilized and vacant office buildings offer us an incredible opportunity to unlock more units of housing and to welcome new neighbors downtown," Supervisor Matt Dorsey said during the…
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