The approval includes an initial office allocation of approximately 1.4 million square feet.
SAN FRANCISCO—The Flower Mart project in Central SoMa was unanimously approved by the San Francisco planning commission at its public hearing last Thursday. The project is being developed by Kilroy Realty Corporation.
The approval includes an initial office allocation of approximately 1.4 million square feet under San Francisco's office development annual limit program (Prop. M), as well as priority for a future phase allocation of approximately 350,000 square feet in 2021, with the remainder of the more than 2 million square feet of office space in the project allocated after 2021. The project's development agreement must still be approved by the San Francisco board of supervisors and signed by the mayor, a process which could be complete as early as October of this year, says Kilroy.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
