Conversion of Empty Office Spaces to Housing Could Revitalize Downtown San Francisco Under New Legislation By Asm Ting
San Francisco’s downtown could once again thrive under AB 2488 by Assemblymember Phil Ting (D-San Francisco). The legislation uses a tax incentive to attract developers who can turn vacant office buildings into much needed residential units. The conversions aim to generate economic activity with the increased foot traffic, while providing relief to the City’s longstanding housing shortage.
“We can address two problems with one bill. AB 2488 empowers San Francisco to create vibrant, walkable, mixed-use communities that open the door to new economic, social and cultural opportunities. The prospect is exciting,” said Ting.