Mayor Lurie Introduces Legislation to Advance Major Downtown Development, Drive Downtown Recovery

Mayor Daniel Lurie introduced legislation to facilitate a significant development at 530 Sansome Street in San Francisco’s Financial District. The proposal includes a new state-of-the-art fire station and a 41-story mixed-use tower encompassing office, hotel, retail, and restaurant spaces. Expected to generate around $816 million in annual economic activity, the project also allocates nearly $15 million to create 100% affordable housing. Lurie highlighted the necessity of a thriving downtown for the city's economic recovery. The initiative employs an innovative financing mechanism, reinvesting hotel taxes into the fire station's construction.

Supervisor Danny Sauter emphasized the project's benefits for community safety and affordable housing. The development results from a public-private partnership with Related California, which has a history of successful projects in the region. This initiative aligns with Lurie's broader goals to revitalize downtown and support small businesses.