Advisory Services Panel Report: San Francisco, CA
Downtown Revitalization
Like many cities, San Francisco’s downtown was significantly disrupted by the shift to hybrid work in response to the COVID-19 pandemic. Less foot traffic in the neighborhood has negatively impacted retail, small businesses, public space, transportation, and public safety. The declining demand for office space, in downtown San Francisco in particular, has impacted the ecosystem that is essential to the City’s economy.
The panel focused on a 239-acre section of downtown that mainly falls within the city’s historic financial district. With unsurpassed transit access, an abundance of commercial buildings looking for new tenants and uses, and opportunities for creative activation of public space, downtown San Francisco is in a strong position to build upon its physical assets and transform the downtown into a resilient, welcoming, and economically vibrant central neighborhood.
The panel provided strategic recommendations on how the City can:
- Leverage and build upon existing physical assets to create a more resilient, economically vibrant, and socially inclusive Downtown neighborhood;
- Identify emerging business practices and financial incentives to retain and attract a diverse range of industries and employers;
- Identify policy changes at the local, state and/or national level that will have the greatest impact on the economic health of Downtown in the near-term and long-term; and
- Prioritize the panel’s recommendations over the next six months, one year, and five years.
Report Summary: Like many cities, San Francisco’s downtown was significantly disrupted by the shift to hybrid work in response to the COVID-19 pandemic. Less foot traffic in the neighborhood has negatively impacted retail, small businesses, public space, transportation, and public safety. The declining demand for office space, in downtown San Francisco in particular, has impacted the ecosystem that is essential to the City’s economy.
The panel focused on a 239-acre section of downtown that mainly falls within the city’s historic financial district. With unsurpassed transit access, an abundance of commercial buildings looking for new tenants and uses, and opportunities for creative activation of public space, downtown San Francisco is in a strong position to build upon its physical assets and transform the downtown into a resilient, welcoming, and economically vibrant central neighborhood.
The panel provided strategic recommendations on how the City can:
- Leverage and build upon existing physical assets to create a more resilient, economically vibrant, and socially inclusive Downtown neighborhood;
- Identify emerging business practices and financial incentives to retain and attract a diverse range of industries and employers;
- Identify policy changes at the local, state and/or national level that will have the greatest impact on the economic health of Downtown in the near-term and long-term; and
- Prioritize the panel’s recommendations over the next six months, one year, and five years.