Office Fee Hikes In San Francisco

What was that old saying regarding killing the golden goose that laid the golden eggs? Sure you get one solid gold geese feast but that is it for a future supply of golden eggs! The San Francisco Planning Commission just okayed a plan to raise office fees by 143%! Fees would go from $69.90 per square foot to $78.57 per square foot. The fee would generate funding for affordable housing and subsidized housing for low-income workers, and with San Francisco office rents already among the highest in the U.S. this is not good for office developers or for office tenants.