Is this cap based on just new construction, or total office space in the market. The reason I ask is that there is a large building undergoing conversion from office to residential around Civic Center, and if you subtract that office space, it allows for a fairly large building to be built. I believe that building is about 500,000sqft.
^^The articles I've read on this all agree you cannot add the square footage of conversions from office space to the available total. So 100 Van Ness, which I assume is what you are referring to, will not affect the issue.
Whether conversion TO office from some other use, as, for example, the Design Center in SOMA would be, I can't say for sure. According to the article I posted, the original intent of the people who got this passed in the 1980s (Calvin Welch, Sue Hestor) was to keep lots that could be used for housing from having office buildings built on them and to otherwise increase housing over office by, for example, focusing developers in the direction of residential and away from office (which, at least then, could be more lucrative). Given that, it seems to me that even conversions to office might be affected, not just new construction.
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