To Save Downtowns, Destroy Them

[iheartthed]

Originally Posted by JManc

Their biggest tenant, Nordstrom is leaving, it is a crappy spot (Market St.) with a LOT of vagrants/ homeless and with less visitors; both tourists and office workers.

Isn't Powell Street the busiest subway station on the West Coast? How could it possibly be in a better location?

[JManc]

Originally Posted by iheartthed

Isn't Powell Street the busiest subway station on the West Coast? How could it possibly be in a better location?

Because it's a total shit show of homeless and vagrants. Sure, the Powell station is fairly busy but not exactly an area I'd recommend shopping or spending time as a tourist. It's pretty nasty in that immediate vicinity and going up to the Civic Center plaza area.

[homebucket]

There was actually an article recently in the SF Chronicle which talked about this particular location.

If you think it's bad now, imagine what it was like in the 70s and early 80s. It's always been somewhat of a skid row and rundown with lots of homeless/vagrants, whereas Union Square was/still is seen as the higher end shopping district. The corner of 5th and Market was occupied by a JCPenney and Emporium store, which was for poorer residents, with Market Street serving as a dividing line between the upper and lower, working class in SoMa.

Then in the 80s, Nordstrom came in and really revitalized the area and SoMa as a whole, with Old Navy, the Metreon, Moscone Center, Yerba Buena Gardens, SFMOMA, and a bunch of hotels. And being on the Market Street subway, it could support far larger crowds than Union Square which was only served by the Powell cable car line and the 38 Geary bus line. They said about 300k people passed through this intersection on a daily basis. It's extremely easy and convenient for folks from the East Bay and hop on BART and do some shopping as The Westfield itself has its own subway entrance. Even then, it never really lost its character. Street performers and merchants, preachers, etc. It's not quite as manicured or curated as Union Square.

Compared to what it was before the 80s, it's still significantly better and its downstream developments have really improved the area. The prevalence of online shopping has to have played an effect too. I'm sure they'll figure something out to bring back traffic to this area. They bring up the Ferry Building as an example of a successful revival. It'll have to turn into some sort of foodie or play destination like Westfield Valley Fair which is always super crowded.

[iheartthed]

Originally Posted by JManc

Because it's a total shit show of homeless and vagrants. Sure, the Powell station is fairly busy but not exactly an area I'd recommend shopping or spending time as a tourist. It's pretty nasty in that immediate vicinity and going up to the Civic Center plaza area.

Isn't Union Square like the most touristy area of SF? The Hilton and Parc 55, which were just turned over to the creditors are just like two blocks away from the Westfield.

[JManc]

Originally Posted by iheartthed

Isn't Union Square like the most touristy area of SF? The Hilton and Parc 55, which were just turned over to the creditors are just like two blocks away from the Westfield.

Yes but not what it used to be. It's pretty seedy there too with just about every business around there with visible security or a moonlighting cop. The Cheesecake Factory is always busy though...

[craigs]

Originally Posted by iheartthed

Isn't Powell Street the busiest subway station on the West Coast? How could it possibly be in a better location?

Embarcadero Station was always San Francisco's busiest BART+Muni subway station, and remains so today. Traditionally, Montgomery Street (financial district) was second, but today it's Powell St. because the office workers have not returned.

Originally Posted by iheartthed

Isn't Union Square like the most touristy area of SF? The Hilton and Parc 55, which were just turned over to the creditors are just like two blocks away from the Westfield.

Pre-pandemic, Fisherman's Wharf was always San Francisco's most touristy area. Locals never go there.

[iheartthed]

Tech industry retrenchment is putting pressure on New York City, per New York Times:

Tech Firms Once Powered New York’s Economy. Now They’re Scaling Back.
By Julie Creswell, Peter Eavis, Emma Goldberg and Matthew Haag|July 25, 2023

For much of the last two decades, including during the pandemic, technology companies were a bright spot in New York’s economy, adding thousands of high-paying jobs and expanding into millions of square feet of office space.

Their growth buoyed tax revenue, set up New York as a credible rival to the San Francisco Bay Area — and provided jobs that helped the city absorb layoffs in other sectors during the pandemic and the 2008 financial crisis.

Now, the technology industry is pulling back hard, clouding the city’s economic future.

Facing many business challenges, large technology companies have laid off more than 386,000 workers nationwide since early 2022, according to layoffs.fyi, which tracks the tech industry. And they have pulled out of millions of square feet of office space because of those job cuts and the shift to working from home.

That retrenchment has hurt lots of tech hubs, and San Francisco has been hit the hardest with an office vacancy rate of 25.6 percent, according to Newmark Research.

...

Small and large tech companies added 43,430 jobs in New York in the five years through the end of 2021, a 33 percent gain, according to the state comptroller. And those jobs paid very well: The average tech salary in 2021 was $228,620, nearly double the average private-sector salary in the city, according to the comptroller.

...

New York is and will remain a vibrant home for technology companies, industry representatives said.

“I have not heard of a single tech company leaving, and that matters,” said Julie Samuels, the president of TECH:NYC, an industry association. “If anything, we are seeing less of a contraction in New York among tech leases than they are seeing in other large cities.”

Fred Wilson, a partner at Union Square Ventures, said tech executives now felt less of a need to be in Silicon Valley, a shift that he said had benefited New York. “We have more company C.E.O.s and more company founders in New York today than we did before the pandemic,” Mr. Wilson said, referring to the companies his firm has invested in.

https://www.nytimes.com/2023/07/25/b...ice-space.html

[homebucket]

Originally Posted by craigs

Pre-pandemic, Fisherman's Wharf was always San Francisco's most touristy area. Locals never go there.

This isn't true. There's quite a few residents that walk, run, bike, fish off the public piers, and frequent the numerous non-touristy restaurants in the area. It's also a good place to buy fresh caught Dungeness crab and fish straight from local fisherman right off their boats, or board a fishing charter.

Not to mention it's also home to one of the region's several ferry hubs, with service to Oakland, Alameda, Vallejo, Mare Island, and Sausalito.

[twinpeaks]

Originally Posted by homebucket

This isn't true. There's quite a few residents that walk, run, bike, fish off the public piers, and frequent the numerous non-touristy restaurants in the area. It's also a good place to buy fresh caught Dungeness crab and fish straight from local fisherman right off their boats, or board a fishing charter.

Not to mention it's also home to one of the region's several ferry hubs, with service to Oakland, Alameda, Vallejo, Mare Island, and Sausalito.

I agree. it's an urban myth that people like to say, but is not true. I end up going to Fisherman's Wharf at least three to four times a year

[TempleGuy1000]

San Francisco’s Office Demand Surges, Largely Thanks to AI Companies

Well there you go. San Fran will be fine.

[homebucket]

These businesses are taking a chance on downtown SF despite 'doom loop'
New eateries have opened around downtown SF and in adjacent neighborhoods
By Susana Guerrero
Aug 4, 2023

Anpoy Pawaritsirikul had spent 12 years working as a manager at James Beard-recognized Lotus of Siam in Las Vegas before deciding that the time was right to open her own restaurant. Last year, she packed her bags for foggy San Francisco, and in January, she officially opened Sisterita, a breakfast and brunch spot.

“My wife brought me here,” Pawaritsirikul said. “We got married last year, and then we opened the restaurant right after. Because we’ve been … working in this industry for a while, we wanted to do something for ourselves.”

Pawaritsirikul and her business partners are among a group of business owners who are taking a chance on San Francisco, opening restaurants and bars near downtown at a time when it seems many storefronts are closing. Amid the “doom loop,” San Francisco’s office vacancy rate hit a record-high 29.4% during the first quarter of 2023, up from 27.6% in the fourth quarter of 2022. Nevertheless, Mayor London Breed announced on social media that “San Francisco is bouncing back,” citing job growth while adding that diverse companies “want to come here.”

Rodney Fong, president and CEO of San Francisco’s Chamber of Commerce, reasons that while the city hasn’t made a full recovery since the pandemic, he’s observed the potential for a faster bounce back. He said that the Financial District, which was among the hardest-hit neighborhoods, has gained newer businesses in the past couple of years that present opportunities for growth.

“We’re starting to see some upswings in downtown,” Fong told SFGATE. “Nightlife, food and entertainment are thriving.”

In the past year alone, newcomers like Dawn Club, Heartwood, Harlan Records, Madarae, Dragon Horse and The Felix have spruced up San Francisco’s downtown and its adjacent neighborhoods with hip bar spaces and imaginative libations. Beloved dim sum restaurant HK Lounge Bistro debuted a new SoMa outpost in February, and both Malaysian eatery Azalina's and halal fried chicken sandwich joint Chicken G’s opened last month. Later this fall, Union Square is expected to gain a swanky rooftop Peruvian and Japanese chain called Chotto Matte.

...

Doug Dalton, who co-owns the Future Bars Group with Brian Sheehy, opened Dawn Club bar in May. Dawn Club joins the Future Bars family alongside its other well-known downtown bars, like Bourbon & Branch, Pagan Idol, and Rickhouse.

His latest bar is at 10 Annie St., just a few blocks from Union Square. The project, which pays homage to the historic 1930s jazz club, has been in the works since before 2020 and was completed during the pandemic years. Opening now had everything to do with timing.

“While San Francisco definitely has had its trials and tribulations recovering from COVID, we feel like this is the ideal time,” Dalton said. “San Francisco has a very vibrant nightlife that is very excited to be back and is looking for this kind of entertainment — especially live entertainment. I think people are ready for that kind of Roaring '20s revitalization, which we’ve noticed is happening in San Francisco.”

Santino DeRose, principal and managing broker at commercial real estate firm Maven, similarly believes that San Francisco is recovering. He’s seen three downturns in San Francisco throughout his career, and with each one, he noticed the creativity it sparks within business owners. He points to the splashy new restaurants that have recently opened across the city.

North Beach, for instance, gained Flour + Water Pizzeria at the former Rose Pistola space in June. Cassava relocated from the Outer Richmond to North Beach last fall, and specialty grocery store Luke’s Local took up shop in the neighborhood this March. DeRose said that many of his clients have gravitated toward North Beach but have likewise been drawn to the Financial District.

“The Financial District is central and easy access from other parts of the Bay Area. There are some interesting spaces architecturally,” he said.

Architecture was a key consideration for Kurt Zdesar, Chotto Matte’s founder, who plans to create an energetic space with sweeping views right in Union Square. The area was his focus all along for the first San Francisco location, which is expected to open this September at the former Macy’s department store at 100 Stockton St. The lively rooftop restaurant will include a robata grill, sushi counter and elevated DJ booth, contributing to both San Francisco’s renowned food scene and downtown’s nightlife resurgence.

“Despite the challenges that have recently shrouded the city, we view this as an era of reinvention and revitalization, a time to create a unique dining experience that can stand the test of time,” Zdesar told SFGATE via email.

A number of factors are leading prospective business owners to open in downtown San Francisco now, according to DeRose. He points to landlords offering rent markdowns to lessees as a means to improve the appearance of a space. Vacant spaces have likewise offered opportunities for new eateries and bars to open, like the forthcoming Pacific Heights restaurant 7 Adams by former Marlena chefs David Fisher and Serena Chow Fisher, as well as SoMa hi-fi bar Yokai by chef Marc Zimmerman. Sisterita, which took up the former space of Shilling & Co. Cafe, is no exception.

https://www.sfgate.com/food/article/...s-18272274.php

[ssiguy]

Calgary is probably the most advanced city in NA when it comes to transforming empty office space into housing in it's core. The city suffers from a downtown office vacancy rate of 30% due to the oil price plunge a few years ago and hasn't been able to fill them back up due to remote working.

The City has put up a lot of money to build the rentals and hence a good chunk of them are mandated as affordable. It has been a huge success offering much needed housing in a city with a numbing population growth rate of 4.6% a year, helped bring people back downtown, and creating a more constant and pleasant pedestrian realm.

Calgary also works because it has a great transit system so even those who choose to live downtown but work outside of it still can live car-free very comfortably.