Prop M: San Francisco’s Cap and Office Development

In 1986 San Francisco voters passed Proposition M, a citizen-sponsored initiative that produced the first annual limit on high-rise office development in the country. Given the pace of new office development, Prop M will likely have a meaningful impact on the competitive landscape for new office development in San Francisco. ULI has assembled a panel comprised of the leading developers along with the San Francisco Planning Director to review and discuss Proposition M and its impact on future office development.

The panel will foster a discussion regarding the historical context of Prop M, current effect on the local and nearby office markets and the administrative revisions that are presently being contemplated among the Planning Department and Planning Commission. The city’s quickly-evaporating office allocation pool is forcing a reevaluation of the office entitlement process and this is an opportunity to learn more about this timely and topical development and land use matter.