One of the most popular and iconic cities in the world, San Francisco has undergone massive changes during an unprecedented tech boom that has seen an increase in the development and construction of the tallest building in San Francisco to handle the influx of tech companies in the area. The passing of a recent ballot measure in the city will now place limits on the explosion of office development in the city.
The San Francisco Balanced Development Act makes a direct relationship with new office construction development, and the amount of affordable new residential housing sponsors of the proposition reacted to the city’s inability to consistently meet affordable housing goals for the flood of new workers moving into the area.
Expanding Restrictions on Building Tallest Skyscraper in San Francisco
In 1986, Proposition M mandated the city be allowed to approve up to 875,000 square feet of office development per year, with any unused space being able to roll over to the next year. Proposition E further reduced office space development to a percentage equal to the difference of affordable housing building permits that are issued in a given year.
Critics are concerned the new guidelines will harm the city’s economy. They see the job base in the city decreasing almost eight percent, resulting in close to 100,000 fewer jobs available as a result.
The measure is also designed to hasten the approval process for six large office projects that will provide affordable housing funding, as well as other community amenities and benefits.
Tallest Buildings in San Francisco Affected by Passage of Proposition E
Local advocates and supporters of the San Francisco Balanced Development Act see it as a wakeup call to let the incoming and growing technology industry in the area know that future development and construction will be more limited than ever before. The move is not being welcomed by business lobbyists who are predicting the move will backfire and ultimately result in a punishing local recession.
Tension and friction between the people of San Francisco and the influx of tech industry companies to the area is nothing new. Protests, fights, and legal battles have been waged at all levels of the relationship. The next step may be to ban the tallest buildings in San Francisco all together, something many of the Prop E advocates will be pushing for next.
The confrontations and strife have led to many tech companies to move to outlying areas or out of state altogether. Some of the offices and campus headquarters for the biggest companies like Apple, Facebook, and Google are located in smaller communities south of San Francisco.
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