| Commercial Renovation,
San Francisco, CA
1414 Van Ness Avenue was an unreinforced masonry building (UMB) that had been designated to have "contributory significance" to the area's historic value.
UMB's can be unsafe in the event of an earthquake and the city's UMB ordinance requires that they be structurally strengthened. The dilemma for the owner of a UMB is that the considerable costs involved in the required strengthening do not often result in correspondingly increased building values or lease rates. Studies were performed for the owners of this building based on the projected costs and returns for two scenarios:
1. Perform only the minimal structural and handicapped access upgrades required by the city and maintain the existing uses of retail at street level and office space above, or
2. Add a two story vertical addition and change the use of the upper floors to loft residential, either rentals or condominiums for sale.
Although the analysis indicated that scenario #2 had great potential for a high rate of return, the longer time involved in the residential conversion coupled with a retail tenant anxious to occupy caused the owner to opt for the first scenario.
The building has been completely renovated, including a new elevator, storefront, and complete disabled access compliance.
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