SF added so many taxes and fees to construction of new housing (largely in 2016) that developers just went to Oakland instead.https://www.sfchronicle.com/bayarea/article/Oakland-dominates-SF-in-housing-production-14295592.php …
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Examples are the Shorenstein parcel whic is now 601 City Center. They came to Oakland dug a hole and left it there for 10 years. Same thing with 1100 Broadway where SF developers bought the land and left it vacant for many years. Now both those parcels have brand new buildings.
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Both buildings are almost fully leased. 601 City Center will be the headquarters of Blue Shield which is relocating from SF. 1100 Broadway announced that it is now fully leased even before construction is completed. Oakland had the lowest vacancy rate in the US and no one built.
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