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Proponents of Proposition C, San Francisco Mayor London Breed's ballot measure to waive transfer taxes to convert offices to housing, have raised sixfold more than opponents ahead of the March election.
View the San Francisco for Thursday, January 25, 2024
Proposition C opponents say the San Francisco ballot measure would let the Board of Supervisors change voter-approved transfer taxes for the benefit of the wealthy without having to get voter approval.
Developers aspiring to convert underused downtown San Francisco office buildings into homes cite costs as the key barrier to overcome in The City’s quest to build housing in the Financial District and its beleaguered economic core.
More than a third of San Francisco's office space is empty and experts say it could take 10 years to make a dent in converting it into housing.