Facing tax revenue shortfall, San Francisco struggles to make downtown vibrant
SAN FRANCISCO -- Real estate researchers report San Francisco's recovery from the pandemic is among the slowest of major cities in the nation thanks largely to the rise of remote work.
"I wouldn't call it a ghost town but it's less people now," said downtown resident Lillian Oliver.
Oliver and her six-year-old son Paris moved to the South of Market District from Sacramento five years ago. She has seen the pandemic transformation.
"I'm used to it being really busy. I came to the city for the people so it's a little bummer," Oliver said.
The city is now partnering with different groups to organize events to bring families back to the Financial and South of Market Districts.
They worked with the Yerba Buena Community Benefit District to launch the first Art and Makers Market at Yerba Buena Gardens.
The event will run on the first Sunday of the month for the rest of the year.
"I think it's a lively thing to do to get the crowd back to downtown and I think it will bring more success for us," Oliver said.
A real estate report from CBRE shows San Francisco office vacancy rate rose to a record high of almost 30 percent this year due to remote work.
City leaders say fewer workers led to more business closures and lower tax revenues.
"It's about bringing people back together and reminding people that San Francisco and our downtown is so much more than only our offices and our work," said Kate Sofis, executive director of the Office of Economic & Workforce Development.
Aside from adding more events in the area, elected officials will soon look at a proposal to make it easier and less expensive to convert vacant offices into apartments.
"All of this collectively is really meant to create a future for our downtown that's much more mixed-use, 24/7 as opposed to only about work," Sofis said.
Some neighbors say that, aside from policy changes, the city needs to invest in cleaner and safer streets. They say no one wants to walk through open drug markets to get to a street fair.
"We've got to be mindful about activating spaces and doing our part to make sure that we're a welcoming city as we've always been," said District 6 supervisor Matt Dorsey.
