San Francisco voters approve tax break for office-to-residential conversions

San Francisco voters recently approved a ballot measure to offer tax breaks to developers who convert commercial buildings to residential use.

The tax break applies to conversions of up to 5 million sf of commercial space through 2030. San Francisco’s office vacancy rate hit a record 36% in December, and it is expected to increase this year.

The initiative is intended to help transform the city’s downtown from a 9-to-5 business district to a 24-hour mixed-use neighborhood. San Francisco’s downtown has a higher-than-average stock of commercial buildings that are suitable for residential conversions. According to a report by Gensler, 40% of the city’s downtown buildings evaluated would be suitable for conversion. That compares to about 20% of buildings in a typical U.S. city.

San Francisco’s stringent planning standards and its building codes, as well as high construction costs, make office-to-residential conversions a heavy lift, though.

In an exclusive interview for HorizonTV, Landmark Developers' President Frank Cretella talks about the firm's adaptive reuse projects for the hospitality sector. Cretella outlines his company's keys to success in hospitality development, including finding unique properties and creating memorable spaces.

The Assembly is an adaptive reuse of a Ford factory and showroom

Adaptive Reuse | Jun 2, 2021

An old Ford factory in Pittsburgh is being adapted to become a biomedical research facility

This is the latest step in the city’s post-industrial resurgence.

Adaptive Reuse | Apr 15, 2021

The Weekly Show, Apr 15, 2021: The ins and outs of adaptive reuse, and sensors for real-time construction monitoring

This week on The Weekly show, BD+C editors speak with AEC industry leaders from PBDW Architects and Wohlsen Construction about what makes adaptive reuse projects successful, and sensors for real-time monitoring of concrete construction.