realestate

San Francisco mayoral hopefuls vow to revitalize faltering downtown area

Can Downtown SF be Saved? Mayoral Candidates Weigh In on Revitalization Efforts

S
an Francisco's Downtown area is facing significant challenges, including declining revenue from property and business taxes due to a lack of commuters, vacant storefronts, and empty office towers. The leading candidates for mayor agree that Downtown needs attention, with each proposing their own solutions.

    Mayor London Breed suggests revamping the area by incentivizing businesses to open in Downtown and bringing in 30,000 residents and students through her "Roadmap to Downtown San Francisco Future." She's also open to office-to-residential conversions and has promoted Downtown events.

    Nonprofit founder Daniel Lurie prioritizes safety and cleanliness, aiming to loosen regulations for small businesses and rejigger taxes to attract company headquarters. He wants to consolidate City Hall resources to support small businesses through tax breaks, grants, loans, and marketing.

    Board of Supervisors President Aaron Peskin proposes a Center for Tech Diplomacy to draw business startups and work with large businesses to keep them in Downtown. He's also pushing for legislation that makes it easier and cheaper to convert offices into homes.

    Former interim mayor Mark Farrell vows to cut the commercial vacancy rate in half by 2028, currently at a record 37.3 percent. He'd offer tax incentives for businesses requiring employees to work from the office at least four days per week and provide financing and tax incentives for housing construction and conversions.

San Francisco mayoral candidates pledge revitalization efforts for struggling downtown district.