San Francisco, December 2, 2025
A downtown San Francisco office building located at 30 Broad Street is set to be transformed into 571 rental apartments as part of a growing trend in urban areas. Acquired at a foreclosure auction, this 12-story property will feature a range of amenities including retail units, a fitness center, and an indoor playground operated by a nonprofit organization. This conversion reflects the ongoing shift in real estate strategies to address housing shortages, driven by rising office vacancy rates in the wake of the COVID-19 pandemic.
San Antonio, Texas
San Francisco’s Downtown Office Building for Apartment Conversion Listed
San Francisco’s downtown real estate market is undergoing a notable transformation with the recent listing of a foreclosed office building, earmarked for conversion into residential apartments. This move underscores a growing trend of repurposing office spaces to cater to the increasing demand for housing in urban locales.
Property Overview
The property at the center of this development is a 12-story office tower located at 30 Broad Street in downtown San Francisco. Acquired by InterVest Capital Partners for a mere $1,000 at a foreclosure auction, the building is set to be reimagined as 571 rental apartments. Plans for conversion include the addition of a floor and an array of amenities such as retail units, a fitness center, a yoga room, a lounge, and a roof deck. Moreover, CompletePlayground, a nonprofit organization, has secured a long-term lease for an indoor playground within the building, replacing the previous occupant, the New York Sports Club. This lease will remain in effect until 2079, with a rent adjustment scheduled for 2035.
Context of the Market
This development is part of a national trend in cities like San Francisco, where conversions from office spaces to residential use are on the rise. The COVID-19 pandemic has led to increased office vacancy rates, pushing property owners and developers to explore alternative uses for these assets. For instance, Philadelphia’s Centre Square office building, once the city’s largest office property, is being considered for residential, retail, or hotel conversions following foreclosure. Similarly, Denver’s Denver Energy Center, encompassing 785,549 square feet of office space, was recently sold at auction and is set for transformation into at least 1,200 apartments. These initiatives reflect a shift in the real estate landscape as cities adapt to housing shortages and changing market dynamics.
San Francisco’s Housing Landscape
The conversion of 30 Broad Street into residential housing is expected to make a positive contribution to San Francisco’s housing supply. By repurposing existing structures, developers can swiftly bring new housing units to market, particularly vital in urban areas where real estate is tightly constrained. This approach is also in line with sustainable development practices as it minimizes new construction needs and optimizes resource utilization. However, the ultimate success of such conversions depends on several variables, including market demand, zoning regulations, and the structural integrity of the buildings for residential adaptation.
Conclusion
The listing of this foreclosed downtown office building for apartment conversion heralds a significant shift in San Francisco’s real estate framework. It illustrates the city’s proactive attitude toward meeting housing demands through the creative repurposing of existing structures, a strategy that is gaining momentum in urban areas across the country.
Frequently Asked Questions (FAQ)
What is the address of the foreclosed office building in San Francisco?
The building is located at 30 Broad Street in downtown San Francisco.
How many rental apartments are planned for the conversion?
The conversion plan includes 571 rental apartments.
What amenities are included in the conversion plan?
The conversion includes retail units, a fitness center, yoga room, lounge, and a roof deck.
Who is the new tenant for the indoor playground?
The new tenant is CompletePlayground, a nonprofit organization.
What is the lease term for the building?
The building is under a lease until 2079, with a rent adjustment due in 2035.
Key Features of the Property
| Feature | Details |
|---|---|
| Address | 30 Broad Street, San Francisco |
| Number of Apartments | 571 rental apartments |
| Amenities | Retail units, fitness center, yoga room, lounge, roof deck |
| Indoor Playground Tenant | CompletePlayground (nonprofit organization) |
| Lease Term | Until 2079, with rent adjustment in 2035 |
Deeper Dive: News & Info About This Topic
HERE Resources
New Innovation Building at UTSA Enhances Downtown San Antonio
Construction ERP Single Database Platform: A Comprehensive Guide for San Antonio Construction Businesses
Construction ERP Guide for San Antonio Businesses
Texas Takes Major Steps to Combat Housing Affordability Crisis
Historic Hedrick Building in San Antonio Faces Uncertain Future
Yeshiva University Expands Healthcare Education with New Campus
Author: STAFF HERE SAN ANTONIO WRITER
The SAN ANTONIO STAFF WRITER represents the experienced team at HERESanAntonio.com, your go-to source for actionable local news and information in San Antonio, Bexar County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Fiesta San Antonio, San Antonio Stock Show & Rodeo, and Dia de los Muertos. Our coverage extends to key organizations like the Greater San Antonio Chamber of Commerce and United Way of San Antonio and Bexar County, plus leading businesses in retail, insurance, and energy that power the local economy such as H-E-B, USAA, and Valero Energy. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HEREHouston.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
