As downtown San Francisco continues to struggle to revitalize itself, transforming office buildings into housing has been talked about as something of a golden ticket.
An additional complication is that there aren’t many examples of office-to-residential conversions in San Francisco that could be used as a model. 100 Van Ness is the most cited example, as the former AAA California headquarters morphed from offices into 400 housing units in 2014. It’s the largest conversion ever completed in the city, and it’s not cheap: Studios start renting at $3,141, and tenants get access to amenities like a roof deck and wine storage.
Construction costs coupled with declining rent make most of these projects impossible, Babsin said, but with new legislation at the city level, projects could get done in the future. He said the currently proposed legislation is a step forward, but there’s even more the city could do.
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