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 …
I think you’re attributing intent when the financing market collapsed in the last recession. @rolandlisf has covered this building for awhile if I remember correctly.
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Shorenstein started construction the month Lehman collapsed. https://www.bizjournals.com/sanfrancisco/stories/2008/09/08/story8.html … Stalled in January 2009 when it was clear things weren't getting better. https://www.bizjournals.com/sanfrancisco/stories/2009/01/19/daily68.html … Two years later, they bought 1355 Market in SF and got Twitter. Blue Shield took another 6 years
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Meanwhile Oakland had the lowest downtown office vacancy rate in the United States with nothing being built while construction cranes by the dozens dotted SF’s skyline? What was that all about?
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