Quality of life, and will increase over time. By the end of the century, a number of San Francisco households will be exposed to Sea Level Rise and flooding. This map was produced by the department of Public Health and actually shows the september 2017 heat wave, and the differential in ground temperatures. If you were in golden gate park, it was a balmy 75, but if you were in one of our inner neighborhoods, you were experiencing temperatures over 120. And of course, were currently facing many, many other crises in housing affordability, child care availability. The framework aims to help meet the mayors nearteam priorities in a way that ensures our longterm sustainability and resilience. In fall 2018, the United Nations synthesized 6,500 scientific works and decreed that we need to get to zero emissions by 2050 to meet the paris climate accord. This is over the 80 reduction that we had all been planning on. So San Franciscos goals are 0, 80, and 100. Whats important to note is those g
Case number 2018. 2 henry adams. Conditional use authorization are proposed for continuance to january 30, 2020. Items 2a and b, for 1776 green street, are proposed for continuance to february 13, 2020. I have no other items proposed for continuance and no speaker cards. Commissioner koppel we have a Public Comment. Richard drury for the petitioners on 1776 green street. I and my clients are not available on february 13th. So i was going to request if the commission might consider a date of i think theyre gone for that twoweek period through the 20th. So the 27th or the following thursday, we would request . How is that . Jonas so february 20th . 27th . Jonas okay. February 27th. Thank you very much. Okay you can make the motion. Commissioner koppel motion to continue items 1a and b and 2a and b to february 27th, to the dates set aside. Jonas thank you, on that motion to continue, items 1a and b to january 30 and 2a to february 27, 2020. On that motion, commissioner diamond . Fung . Jo
[ applause ] good morning. Thank you mary. What an amazing opportunity to be here. Today i live here with my family and raising two young daughters in San Francisco. Uf for those who dont know me, i am not a religious person. But i think we should all take a moment and say a prayer of thanks for the environment we live in. For all of us who touch bay area real estate, its really incredible how quickly things have changed. If you go back two, two and a half years and think about what the environment was in the middle of 2010, we were in a terrible environment. Values were down significantly. We couldnt lease space it save ourselves and we felt it would be a long, long slug to come out of the hole we were in. Here we are, barely two years later, in one of the strongest Office Markets in the country. The growth for is overwhelming a shrinking of real estate needs and were not seeing that kind of growth in new york or washington. Its very select markets that were seeing the kind of growth
Speyer want to capitalize on that. Im going to start at the risk of boring everyone with a couple of charts. The first chart shows the average sales prices for Office Buildings in blue. It shows the average replacement costs in green and the line is the cap rates for Office Product in San Francisco. And there are a couple of things that i think are worth pointing out in this chart. First, that while values have increased, they still fall short of the peaks that we saw in 2007. Also while replacement costs have been fairly steady here in the last several years, if you look back historically, there has been a stairstepping historically over time of replacement costs. And i believe that were about to enter an environment where both Construction Costs and land costs will push replacement costs up again in San Francisco. Also while cap rates have come down significantly since 2010, they are still well above where they were in the 20062007 environment. And keep in mind that the treasury mark
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