The Metropolitan Transportation Commission moved forward with a $179 million plan to relocate its agency headquarters from Oakland to San Francisco.
The region’s lead transportation planning agency, the MTC will use toll money to purchase and renovate a property on 390 Main Street in San Francisco’s SoMa District. The plan has been criticized by East Bay lawmakers, who have said the MTC should try to find a new building in Oakland, its current home. The agency first approved the proposal to move in July, but after getting deluged by East Bay residents opposed to the plan, the MTC agreed to hold off on any decisions regarding the relocation.
Following recommendations from an ad hoc committee to move forward with the 390 Main St. plan, the MTC again agreed to move forward with the relocation plan in a vote on Wednesday.
Although buying the 390 Main Street property will cost $105 million and entail about $75 million more in renovation expenses, the MTC expects to net $49 million in rental income over the next 30 years.