San Francisco approved converting the 988 Market Street office building into 45 residential units. New adaptive-reuse legislation let the developer skip standard approval steps and certain fees, cutting costs significantly.
San Francisco has approved the first post-pandemic office-to-residential conversion. 988 Market Street is a historic office building next to the Warfield Theater, and the planning department just approved a site permit that will see it converted into a 45-unit building. Because of recent legislation promoting adaptive reuse of commercial to residential spaces, much of the ordinary approval processes were bypassed, and the project was made a lot less expensive, exempting the developer from certain fees and taxes. Still a ways to go before this thing is truly shovel-ready, but it's definitely a step in the right direction. Let me know what you think in the comments.
