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Board approves limited fee waivers to speed office‑to‑housing conversions downtown with a 7‑million‑square‑foot cap
Summary
The board passed an ordinance on first reading that waives certain impact fees and inclusionary housing requirements for targeted downtown office‑to‑residential conversions, with a 7,000,000 square‑foot cap and other conditions.
The San Francisco Board of Supervisors on Feb. 25 passed on first reading an ordinance designed to encourage conversion of underused downtown office space into housing. The measure waives certain development impact fees, including inclusionary housing fees, for a narrowly targeted subset of downtown office‑to‑residential projects and requires reporting and a square‑foot cap on exemptions.
Why it matters: Downtown vacancy in San Francisco has climbed in recent years, and proponents say conversions to housing would both add homes and reduce office vacancy. The ordinance seeks to lower costs that have deterred conversions.…
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