Supervisors weigh selling War Memorial transferable development rights; vote to continue for review

Mr. Updike, speaking for city property management, asked the Budget & Finance Committee for one-time authority to sell up to 1,100,000 gross square feet of transferable development rights (TDRs) from the War Memorial Complex at 301–401 Van Ness to raise revenue for a planned $154 million restoration. "TDR is unused development rights from historically significant buildings that can be transferred through sale to a developer," Updike said, describing the mechanics and noting proceeds would be used for restoration and subject to future appropriation.

City staff proposed a cautious pilot: set a minimum acceptable sale price of $25 per square foot and require the director of property to return to the Board of Supervisors for reauthorization once 550,000 square feet of TDRs have been sold, allowing the city to reassess market impacts. The budget analyst told the committee that because the number and timing of transactions are uncertain, "the total administrative cost to sell all 1,100,000 square feet of TDRs cannot be estimated," and that receipt timing for sale proceeds is likewise indeterminate.

Historic preservation advocates raised concerns in public comment. Gigi Platt, a preservation professional, said she did not learn of the proposal until shortly before the meeting and urged broader planning-department involvement and transparency. "I'm really concerned about this," Platt said, listing several historic donor sites that could be affected and urging consultation before the city moves forward.

Supervisor Eric Marr and others asked whether pausing the item to allow preservation advocates more time would cause harm. The committee adopted a motion to continue the TDR authorization to the next meeting so staff can provide additional details and allow stakeholders to review the proposal. The committee did not take a final vote on the TDR authorization at this meeting.