The California stem cell agency is located south of Market Street in San  Francisco, close to the San Francisco Giants ballpark(upper right).  Since  the agency has been there, the area has grown from seedy to gentrified.

“I met with the mayor of San
Francisco(Ed Lee), who's a dear friend, and he encouraged us to be
aware that he's very committed to helping us find some space in San
Francisco. Whether it means tax credits or incentives to a potential
landlord, we still have to work that out. Obviously we still have to
work out what the space will be. But the fact that the mayor has
indicated very explicitly that he wants to keep us in San Francisco,
I think it will bode well for us down the road.

“The current owner of the property
(Stockbridge Capital Partners) has not been happy that for ten years
they've had to supply free rent to us. And what they didn't
anticipate was having to provide for over $755,000 in operating
costs, which they thought some donors would take are of. Those donors
-- some of whom passed away and others who chose to give money to
other institutions, UC San Francisco, in particular, to the stem cell
lab, which was very much appreciated, I know, by UCSF – but at
the end of the day, there's no room for negotiations with this
current owner.”

“I would not work on that assumption.
I would work on the assumption somewhere between a dollar and more,
again, dependent upon what kind of tax incentives the City of San
Francisco would provide. We're very fortunate that my son(Joaquin
Torres) is the deputy mayor for economic development, so we also have
him working on this as well.”

“I'll ask more questions offline.”

Source:
http://feedproxy.google.com/~r/blogspot/uqpFc/~3/v8usDDMWucE/california-stem-cell-agency-looking-for.html