Prop C, the More Homes + A Vibrant Downtown ballot measure, waives the City’s transfer tax on projects that convert buildings from non-residential to residential uses, incentivizing more underused office buildings to be converted into housing.

This measure is an important piece of a multi-pronged effort to create a more sustainable, vibrant Downtown neighborhood, and bring investment back to San Francisco.

For projects that are on the edge of financial feasibility, the current 6% tax due on the sale of a converted and leased building is simply too expensive, discouraging owners and developers from undertaking these conversions in the first place.

The increased repurposing of office buildings into housing would reduce the vacancy rate and bring new investment into Downtown, increasing opportunities to create a 24-hour dynamic neighborhood where people can live, learn, work, and play.