The NAIOP SFBA Government Affairs Committee (GAC) has put together the following update for our members to stay informed about California State and San Francisco Bay Area local legislation. In addition to our Chapter's ongoing relationship with CBPA, which tracks legislation at the State level, New Deal Advisers teams with us to monitor and report on local Bay Area policies that affect commercial real estate.
Join NAIOP SFBA in taking action and oppose Prop I, the proposed increase to the San Francisco City real estate transfer tax on the November 2020 ballot.
Example of potential impact on San Francisco office building valued > $25M:
The Real Estate Challenge, NAIOP SFBA’s version of the Big Game, is a real estate development competition between legendary rivals Stanford University and the University of California, Berkeley (Cal). The unique program is designed to give graduate students hands-on experience in real estate development. Teams are charged with devising and successfully pitching a solution to a complex real-world real estate problem. Participants embark on an intensive ten-week journey in which they engage with a large number of project sponsor representatives and city officials as well as real estate industry professionals for guidance and mentoring along the way. The COVID-19 pandemic raised the bar even higher on this year’s competition necessitating all presentations be conducted online.
NAIOP SFBA hosted an extremely important Zoom-In Webinar: How Will Prop 15 Impact California Commercial Real Estate, on Thursday, September 17th. The program featured Rex Hime, President and CEO of the California Business Properties Association (CBPA) which provides legislative advocacy for NAIOP in Sacramento. Hime explained the impact of Prop 15 which, if passed, will remove Prop 13’s property tax protection and will result in the largest property tax increase in history. He also provided an update on the work of the No On Prop 15 Campaign, a diverse bi-partisan coalition, and urged NAIOP members to get involved, NoOnProp15.org.
The NAIOP San Francisco Bay Area Real Estate Challenge was established in 1990 by Steve Chamberlin, a local developer and emeritus adjunct professor in real estate at UC Berkeley’s Haas School of Business, to give graduate students hands-on experience in real estate development. Every year teams from University of California, Berkeley and Stanford University Graduate School of Business are assigned a project site and given just 60 days to come up with a development proposal. A select panel of jurors reviews both proposals in detail and chooses a winner after the final team presentations are presented at the annual NAIOP SFBA Real Estate Challenge event.