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Clogged Pipeline

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With new office construction in the City at its highest level in decades, developers are facing a new problem: Prop M. The 1985 law restricts the amount of office space that can be approved in San Francisco, which is currently 2.7 million square feet from now to this time next year. The problem is developers have submitted applications to develop more than 6 million. Is the law that restricts growth hurting our surging local economy or protecting the city from over-building when the bubble bursts? [SF Business Times]