Downtown San Francisco Poised To Attract Housing Development Under Ting Bill Signed By The Governor
New housing could play a big role in revitalizing Downtown San Francisco, now that Governor Gavin Newsom today signed AB 2488 by Assemblymember Phil Ting (D- San Francisco). The bill uses tax incentives to entice developers into converting the area’s empty office and retail spaces into residences.
“It’s time to bring downtown back to life. We have a housing shortage and an unprecedented amount of commercial properties for rent. It makes sense to repurpose under-utilized buildings and turn them into places to live. Tax incentives have been a proven mechanism in other cities to create now thriving, walkable, mixed-use communities. I want the same for San Francisco,” said Ting.