Proposed San Francisco ballot measure would set aside 6M SF in office for central SoMa

A proposed San Francisco ballot measure could fast-track approvals of 6M SF of office in Central SoMa, but there is a catch. New office projects would have to contribute to affordable housing projects or pay additional fees, the San Francisco Business Times reports. Under the proposed measure, the area would not fall under Prop M, which caps new office space in the city at 950K SF each year. Office projects would have to add to affordable housing either by dedicating land, buying existing affordable housing or pay an affordable housing fee within 30 days of approval or a 25% larger fee for affordable housing. The ballot measure is being submitted by TODCO Executive Director John Elberling in partnership with SPUR as a way to promote more affordable housing.

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