The San Francisco Board of Supervisors last week passed an ordinance aimed at reducing office vacancy while boosting the city’s housing supply, but real estate professionals have doubts about the effectiveness of office-to-residential conversions as the answer to the city’s problems.
“[Office conversion] is not going to be the solution,” Grosvenor Senior Vice President of Investment Angela Biggs said as part of Bisnow’s San Francisco State of the Market event at 1170 Harrison St. in San Francisco.