Wall Street had its own ‘doom loop’ days. SF should learn from them. Opening downtown up for residential housing is a start.
You'd probably guess that's some recent Miami transplant with a Substack describing downtown San Francisco.
The problem in both cases was office workers going elsewhere. In Wall Street's case, they'd migrated north to Midtown. In modern San Francisco, they're staying home. But the effects are much the same. It's shocking how few people live in downtown San Francisco. A Census tract that includes most of the Financial District — roughly the triangle formed by Powell, Sacramento and Market streets — has a population of just 1,800. A similarly small number live in the blocks around the Transamerica Pyramid. Fewer than 2,000 people live in the strip along the Embarcadero south of the Ferry Building.
Yosemite’s popular spots to get multimillion-dollar upgrades The iconic Mist Trail is getting safety and viewing improvements San Francisco recently approved a Housing Element, a plan required under state law to accommodate expected growth. The plans for downtown are shockingly unambitious: Not counting housing developments already in the pipeline, the plan would only add 1,700 units to the neighborhood.
Still, there's opportunity to turn older, smaller office and retail buildings into housing: Imagine some of the upper levels of buildings overlooking Union Square turned into apartments.
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