Can San Francisco Save Itself From the Doom Loop?
Downtown San Francisco now trails nearly every other major urban center in economic health. Its 25.7% office vacancy rate is close to 10 percentage points higher than the U.S. vacancy rate of 16.4%, according to commercial real estate firm Colliers International. Ridership to downtown on Bay Area Rapid Transit trains is one-third its 2019 level.
Retailers like Nordstrom and Banana Republic have announced in the past few months that they are closing their downtown San Francisco stores. The owner of the city’s biggest mall, located downtown, is handing it back to the lender rather than continue to make debt payments.
https://www.wsj.com/articles/san-francisco-crime-downtown-doom-loop-e5fcd7ba?mod=hp_lead_pos7