Empty offices, abandoned malls, concerns over crime: Why San Francisco, the Golden City, is losing its luster

business insider ^ | June 17, 2023 | Al Yoon

[Governor Dinwiddie]

Downtown San Francisco's fall from grace is unfolding quickly.

Landlords large and small are waving the white flag over the increasing pressures facing the city, stemming in part from the downsizing of some of the largest employers and the inertia of remote work.

In May, foot traffic to San Francisco offices was down nearly 60% compared to 2019 — the largest deficit of the major US urban centers tracked by Placer.ai, and it shows. The city's 18 million square feet of empty office space is so vast that it could house 92,000 people, according to the San Francisco Chronicle.

Since April, the office tower at 350 California Street sold for an alarming 75% less than its estimated value before the pandemic. The owner of the flagship Hilton San Francisco Union Square and the nearby Parc 55 handed the keys to its creditors rather than try to make payments on a $725 million loan. Days later, Unibail-Rodamco-Westfield and coowner Brookfield gave the San Francisco City Centre back to their lenders after the exit of retailers left the mall just over half occupied.

[Governor Dinwiddie]

San Francisco is sinking into its own muck.

[cgbg]

Send all the nation’s homeless people and illegal aliens to SF—might as well turn the lemon into lemonade!

[Governor Dinwiddie]

#2: "Send all the nation’s homeless people and illegal aliens to SF—might as well turn the lemon into lemonade!"

LOL! Great Idea! Rename it "Homeless Depot".

[bobcat62]

As the late Lee Rogers of KSFO used to say:

San Francisco is the world’s largest outdoor lunatic asylum.

[Responsibility2nd]

The city’s 18 million square feet of empty office space is so vast that it could house 92,000 people, according to the San Francisco Chronicle.

———————————————————————

It sounds like that Chronicle has done their homework. 92,000 people? Isn’t that the average monthly number of illegals? Let’s send them all to San Francisco.

[gibsonguy]

BI is a leftist rag so if they are calling this out you know SF is collapsing

[FoxInSocks]

The city's 18 million square feet of empty office space is so vast that it could house 92,000 homeless people

Sounds like an invitation.

[catnipman]

you know things are really bad when the ultra-hard-leftist Biz Insider makes an issue of san fran being destroyed by hard leftist “governance” ...

[neverevergiveup]

It's incredibly expensive, and why would you work that hard to afford to live there if the quality of life and the community safety isn't worth it? I used to spend a lot of time there, run a lot, go to Muir Woods, enjoy great restaurants, but it's just not worth it now. That said, at least the Pelosi’s have a nice Subzero refrigerator stocked with gourmet ice cream.

We have so lost our way..

[Political Junkie Too]

San Francisco will continue to rot because an institutional inertia sets in when city leaders refuse to admit that their policies have failed despite all evidence pointing to that fact.

For the left, admitting failure is worse than letting the city actually fail.

-PJ

[Grampa Dave]

Empty offices, abandoned malls, concerns over crime: Why San Francisco, the Golden City, is losing its luster:

This is what you.we get with Democrats at all levels of government from city to county to state to Federal.

[Mariner]

Everyone be sure to tie this around the neck of Gavin Newsom when he wins the Dim nomination.

[mcenedo]

BI is a leftist rag so if they are calling this out you know SF is collapsing

No mention of the politics and policies that accelerated the decline of this once wonderful city.

Do you want to steal up to $950 worth of merchandise whenever your drug supply runs low? No problem! San Francisco is the place to be.

[1of10]

“it could house 92,000 people”

Who doesn’t think this is the plan?

What better way to save the commercial real estate market that is dying in the cities.

Fill all the buildings with imports... the infrastructure is already there. Let Uncle sugar pick up the tab...

What are they paying in new york 500$ a night ...
sounds like a win win for everyone.

well ...maybe not everyone ...

[lurk]

The article says it right there. They can house 92,000 homeless people in these vacancies.

Problem solved. Supply and demand.

[packagingguy]

All this empty office space, not just in San Fran.

It’s dragging down banks. No tenants, no rent, no mortgage payment.

And we have a severe residential housing shortage.

Why don’t they convert the office space?

[Robwin]

Losing? That horse left the barn a long time ago, partner.

[rdcbn1]

The City has always been a hard place to visit, even in the best of times. . It's expensive, traffic sucks and parking is a disaster. You really have to want to go there - and it used to be worth the hassles. Now it's harder and more expensive than ever and it's really not a pleasant experience. People don't leave their hearts in San Francisco, in part because some very dangerous and disgusting people are leaving other body refuse on the streets

[frank ballenger]

From the introduction to the song San Franciscan Night by Eric Burdon, released August, 1967

....dedicated to the city
And people of San Francisco
Who may not know it but they are beautiful
And so is their city

This is a very personal song
So if the viewer cannot understand it
Particularly those of you who are European residents
Save up all your bread
And fly Trans-Love airways to San Francisco U.S.A.

Then maybe you’ll understand the song
It will be worth it
If not for the sake of this song
But for the sake of your own peace of mind

(he later takes cheapshots such as cops filled with hate on a street named Love)

[GreatRoad]

Enemies of the US saw that SF was the most beautiful city in the world so they laid plans to destroy it. Looks like their work is done.