Quote:
Originally Posted by coyotetrickster
Don't forget SF's high rise construction activity is limited by Prop M. That severely restricts the number of high rises that will actually be permitted in a given year.
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Actually, that's a minor factor. Prop. M applies only to large commercial buildings and much of the recent highrise activity is residential. As has been true since the measure was passed in the 1970s, very recently it looked like we had reached the Prop. M limits on commercial buildings and there would have to be a "beauty contest" to rule out some projects but it looks to me like we are on the verge of a cyclical downturn in commercial construction and that may happen for only a year or so or not at all. Meanwhile, residential highrises (all but one of those I can think of abuilding into next year) proceed without legislative restriction. In the current construction wave, possibly until now, Prop. M has been no factor at all because we have been using up years of banked Prop. M quotas from when there was little building.