Will San Francisco’s Conversion Incentive Work? – Globe St.
It took nearly a week to certify the results, but San Francisco voters have narrowly approved a ballot measure creating a new incentive aiming to spur conversions of empty office buildings to housing.
The measure, known as Proposition C, exempts property from real estate transfer taxes, ranging from 0.5% to 6%, the first time a commercial property is sold for conversion to residential use. The exemption applies to projects that receive final approval before Jan. 1, 2030.
