PMI recently applied for a variance which would reduce the parking requirements on two of its office buildings in the SoMa district of San Francisco. The City granted the variance on 625 Third Street and 539 Bryant citing that San Francisco has substantially improved its public transit in the area. The City also recently changed the parking zoning requirement from a minimum number of spaces required to a maximum number of spaces allowed. Both properties are of easy walking distance to the Caltrain and within a block of municipal transit which runs every four minutes for a ten minute ride to BART. Transit options will exponentially increase for the two properties. The City has commenced construction on the new fourth street subway which will connect Caltrain SoMa with Chinatown with a stop near BART. PMI has also contributed to the transit-friendly situation. At PMI’s buildings, arrangements have been made with a garage near the Embarcadero BART Station for tenants to park their bikes at the garage overnight. Tenants can then take the BART into the city and ride their bikes the rest of the way to work. At 410 Townsend in SoMa, near Caltrain, PMI made arrangements for Zipcar, a car sharing company, to keep cars in its garage for the benefit of their tenants.
PMI Properties is an owner and investor in creative office buildings on the Westside of Los Angeles and in San Francisco. Availabilities include 2,000 square feet in Santa Monica and Marina Del Ray and up to 18,000 square feet in Culver City. For more information, go to http://www.pmiproperty.com.