A “For Lease” sign in a shopfront in the Union Square shopping district of San Francisco, California, on May 3. San Francisco’s office vacancy rate soared to a record 27.6 per cent at the end of 2022, compared with just 3.7 per cent before the pandemic. Photo: Bloomberg
A “For Lease” sign in a shopfront in the Union Square shopping district of San Francisco, California, on May 3. San Francisco’s office vacancy rate soared to a record 27.6 per cent at the end of 2022, compared with just 3.7 per cent before the pandemic. Photo: Bloomberg
Bernard Chan
Opinion

Opinion

Bernard Chan

Can downtown San Francisco emerge from its slump before the Apec summit?

  • The work-from-home trend and tourist downturn during the pandemic fuelled business closures, exacerbating urban decay in an area already struggling with crime and homelessness
  • The mayor has plans to revitalise the once-prestigious district and, hopefully, progress can be seen before the city hosts world leaders for the Apec summit in November

Bernard Chan
Bernard Chan

Updated: 3:00am, 30 Jun, 2023

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A “For Lease” sign in a shopfront in the Union Square shopping district of San Francisco, California, on May 3. San Francisco’s office vacancy rate soared to a record 27.6 per cent at the end of 2022, compared with just 3.7 per cent before the pandemic. Photo: Bloomberg
A “For Lease” sign in a shopfront in the Union Square shopping district of San Francisco, California, on May 3. San Francisco’s office vacancy rate soared to a record 27.6 per cent at the end of 2022, compared with just 3.7 per cent before the pandemic. Photo: Bloomberg
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