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$11.8M for HSA Tenant Improvements at 1455 Market – $8.5M Surplus and $3.3M De-Appropriation

  • When: 2025/05/06
  • Address: 1455 Market Street, San Francisco, CA
  • City: San Francisco
  • State: CA
  • Category: City Properties
  • Subcategory: Land Lease
  • Asset Class: Commercial
  • Property Type: Urban office
  • Size: 383,037 square feet

Ordinance appropriating $8,500,000 from projected revenue surplus, de-appropriating $3,346,898 from building and structure improvement and capital renewal projects at 1235 Mission Street, and appropriating $11,846,898 to interdepartmental services, rent paid to Real Estate, and tenant improvements in the Human Services Agency’s FY 2024-2025 budget. The funds will cover one-time tenant improvement and furniture, fixtures, and equipment costs to build out 383,037 sf of office and service center space at 1455 Market Street under the City’s new long-term lease. The appropriation directs all funds to the Real Estate Division for execution of the lease amendment and related work. The ordinance also authorizes the Controller to record any necessary interfund transfers and adjust accounting treatments to conform with GAAP.

Source

Applicant - Human Services Agency


Ownership - Hudson 1455 Market, LLC


Developer - Hudson Properties


City Representative - Adam Thongsavat