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San Francisco Sells 30 Van Ness for $80M, Plans New Offices

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It's like a game of commercial development musical chairs: According to several media outlets, the city of San Francisco has sold their offices at 30 Van Ness Ave. to the development company Related California. In turn, the city will relocate their operations based at the site to a another Related development at 1500 Mission St. (the location is currently home to a Goodwill). The deal comes after a planned sale to Carmel Partners fell through when an agreement for affordable housing couldn't be reached.
According to a report in the San Francisco Chronicle, city officials say Related is planning on making 20 percent of the 600 unit residential tower they plan for the site affordable housing. The report says that number could go up, if the city can come up with further subsidies.

· More Market Madness [Curbed SF]
· S.F.'s sale of 30 Van Ness boosts busy area's residential outlook [SFGate]