Demand for office space in San Francisco is booming, but commercial development is limited by Proposition M, a 1986 law that caps new office construction at 875,000 square feet per year. There are currently more than 10 million square feet in the city's pipeline, so the Planning Commission is working on a policy to determine what gets built and what gets left out, making this the first year the law has kicked in since the dot-com boom. Fear of hitting the cap has already caused some developers to go residential with projects initially proposed as tech-friendly offices. [SFGate]
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