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Board Approves Fee Waiver for Downtown Office-to-Residential Conversions with Square-Foot Cap
Summary
The Board approved on first reading an ordinance to exempt certain downtown office-to-residential conversions from some development impact fees and inclusionary housing requirements, with a 7,000,000-square-foot cap added as an amendment.
The San Francisco Board of Supervisors on Feb. 25 approved on first reading an ordinance that waives certain development impact fees and some inclusionary housing requirements for a targeted set of downtown office-to-residential conversion projects, subject to new amendments that impose a 7,000,000-square-foot cap on the total square footage eligible for the waiver.
Proponents said the measure will help unlock stalled conversion projects and accelerate housing…
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