Today's my 8-year anniversary in the Bay Area, which means in a few months, incredibly, it'll be the longest place I've lived, surpassing NYC (though I've been more bicoastal thanks to remote work)
Grateful, nostalgic, and concerned about the future of this incredible place.
Exclusive: Westfield stopped paying its $558 million mortgage and is surrendering its namesake SF mall, the biggest in the city, to lenders in the wake of Nordstrom's planned closure and plunging foot traffic (down ~42% from 2019) and sales (down ~1/3)
Jackson Wang (
@JacksonWang852
) performs in the opening ceremony of the League of Legends World Championship finals at Chase Center in San Francisco.
@sfchronicle
California heat wave may be the worst in history and is heightened by climate change. Fairfield hit 117 and Silicon Valley is currently 107:
@kurtisalexander
Westfield is leaving SF, but its Valley Fair mall in Silicon Valley is booming, with record sales + destination restaurants after a $1.1 billion expansion
Around 9 pm on Wednesday near close, dozens of people were still lined up to get ramen and udon.
Pinterest cancels massive Central SoMa lease at 88 Bluxome, citing remote work shift from coronavirus. Biggest sign of reduced tech office demand yet and a blow to a giant project with community benefits, including land for affordable housing, public pool
Economic turmoil is battering the area around Powell Street, one of the key tourism areas in SF.
Last week, Park Hotels & Resorts said it stopped payments on a $725 million loan and is giving up Hilton Union Square and Parc 55, nearly 3,000 hotel rooms
Twitter sued by landlord at SF HQ after alleged nonpayment of $6.8 million in rent: The company was also sued by the Crown Estate, which manages properties for King Charles III, for alleged unpaid rent in a London office.
SF residents and tech workers raged at city leadership — including Chesa Boudin, who's out of office ~9 months — over what they called out of control crime after fatal stabbing of Bob Lee.
Data shows SF has one of lowest murder rates in U.S.
@susieneilson
@VladSF
That's in today's story. There's a big difference between selling it like the other malls and giving it up to the lender because the economic performance is so bad.
SF school board member Alison Collins and her husband Chris Collins illegally merged two Russian Hill apartments, city says. Investigation came after 103-page anonymous complaint:
Listed for sale as a single home for $3.25 million in 2019, never sold
Apple, the most valuable public company in the world, says its county-assessed $1 billion offices are worth $200 as it fights for lower tax bill Meanwhile, biotech giant Genentech has been fighting taxes for 18 years. Great research + reporting
@Cat_Ho
My first story for
@sfchronicle
: A massive 2,402-unit housing project that would replace a mall less than a mile from Apple HQ in Cupertino wins key city decision, could start construction in September: "I'm thrilled," says
@Scott_Wiener
who authored SB 35
Bay Area median home price: $1.1 million
Houston: $266,685
SF one bedroom: $2,054 per month
Houston: $902
Silicon Valley office rent: $60+ per sq ft
Houston: $30 per sq ft
Bay Area: CEQA
Houston: No zoning
The Chronicle's own office at 901 Mission St. is a block from Westfield and faces a 60% vacancy rate after Yahoo and Autodesk leases expire this fall
Our neighbor, the new 415 Natoma tower, is 97% vacant (owned by Brookfield, part owner of the mall)
To reiterate, yes Westfield said it was trying to sell all its U.S. malls last year.
No, that’s not the same as defaulting on its mortgage and giving up a mall that it built 20 years ago to lenders. Major difference.
More stories coming.
Exclusive: Westfield stopped paying its $558 million mortgage and is surrendering its namesake SF mall, the biggest in the city, to lenders in the wake of Nordstrom's planned closure and plunging foot traffic (down ~42% from 2019) and sales (down ~1/3)
Westfield and its SF retailers reported alleged stabbings, sexual assaults, threats of violence and robberies, emails with city officials obtained by
@thejdmorris
show: The mall owner is giving it up to lenders
In a few weeks I’m joining
@sfchronicle
to cover real estate and business. I’m thrilled to be part of a robust newsroom in a time when local reporting is so crucially needed. I’m grateful for your readership (and tips)! Excited for the next chapter.
SF and Seattle have powerful tech economies that both went remote, water and hills, homelessness and fentanyl crises. But Seattle grew an astounding 2.4% in population in latest census year, the most of ANY big U.S. city. I wanted to find out why:
Downtown SF retailers boarded up but still open in the wake of mass retail thefts:
Mayor
@LondonBreed
: “When I talked to people ... they didn’t care about a boarded-up storefront. They were just very thankful and they were saying thank you to the police”
Breaking news:
@sfpublicworks
moves Clinton Park boulders back onto sidewalk after they were rolled off last night. The controversial rocks were placed in an effort to block homeless, drug dealers. More coverage soon
I witnessed APEC protesters block/shove a man with badge from exiting security area. Woman protester yelled at him for supporting "genocide," he punched her in the face and was handcuffed
SFPD said they arrested a person for assault at same time/location
Wow, USPS data shows 124,131 San Francisco households moved between March and November, with at least 34,803 staying in SF, but potentially 10%+ of the city leaving. I want to know what last year's number was. Props to
@AhavahRevis
for getting this.
Alison Collins, SF school board member being called to resign over racist tweets, is wife of Chris Collins and received $100,000 from his company Urban Pacific, 1% owner of the Parcel F tower project going to final Supervisors vote tomorrow.
@jilltucker
New SF study found the city lost $484 million in taxes due to remote work across three major sectors including tech.
And the 5 biggest taxpayers account for 24% of all business taxes, making the city vulnerable to potential downsizings or relocations:
Update: SF Supervisor
@AaronPeskin
said he wants to hold a public hearing on Twitter's reported bedroom conversions, as well as "whether or not individuals who are H-1B visa (holders) are being exploited as a matter of labor practice" via
@thejdmorris
Next door, the fatal shooting of Banko Brown by a Walgreens security guard underscored the crime and public safety challenges in the area:
Brown's family is now suing Walgreens and its now ex-security firm after the DA declined to charge the guard
Only 3.7% or 4,264 of recorded address changes in five Bay Area counties went out of state, suggesting "exodus" is mostly hype. 72% stayed in Bay Area:
w/
@susieneilson
(USPS excluded batches from one zip code to another of 10 or less)
The projects were not approved. The Board passed a resolution supporting *state* funding, which has not been secured:
Costing $1.1+ million per apartment, about 3x the median U.S. home price, is newsworthy:
JPMorgan health care conference draws 8,000 to SF's Union Square for first time in three years: Attendees say the energy is good, but parts of SF like the Tenderloin and SoMa feel "dystopian"
.
@elonmusk
falsely said Tesla sent 100 ventilators to LA and 6 to Sonoma. LA official said they got bilevel positive airway pressure units, not ventilators. Sonoma Valley Hospital got 6 continuous positive airway pressure units
San Francisco's losing another big corporate HQ: Charles Schwab said it will move to Texas after acquiring TD Ameritrade. Follows McKesson, Bechtel and Stripe all in the last two years.
A night market is coming to SF's Sunset district on Sept. 15 on Irving Street
@ekadvany
The inspiration for Supervisor
@JoelEngardio
was the dazzling Raohe Night Market in Taipei (get the black pepper buns):
IKEA's SF food hall will include a bakery from a founder of Noma, one of the world's most acclaimed restaurants:
@macortez619
"we want to be less about the doom loop and more about the cinnamon swirl"
UPDATE:
@California_HCD
reiterates Berkeley is NOT in compliance with state law and could be subject to builder's remedy, though it may deny them for non-zoning reasons (e.g. specific, adverse impact upon public health or safety)
Berkeley's housing element plan was rejected by the state, opening it up to potential builder's remedy efforts, though the city said it's in "substantial compliance" and not subject to them. No applications yet:
It took 11 years and $82 million to build 113 affordable apartments in SF's Tenderloin. That's $725,663 per unit, more than twice the median U.S. home price of $315,000.
@JohnKingSFChron
Exclusive: OpenAI is close to signing a massive office lease around 445,000 sq ft that would be SF's biggest since 2018
@laura_waxee
+ me
It would be the strongest sign yet of AI's growth in the city, and fill about half of Uber's HQ via sublease
IKEA's real estate affiliate bought the long-vacant 6X6 mall in SF's Mid-Market, a rare sign of retail investment in a brutal year. IKEA will have an "integral role" there, with more details coming soon
Square leases all the office space in Oakland's Uptown Station (formerly Uber's building) in one of the biggest deals in city history. Square poised to become Oakland's largest tech company with space for 2,000 employees. The end of a four-year saga?
The state that saw the biggest percent increase in San Francisco arrivals during the pandemic wasn't Texas or Florida, it was Montana! Plus tons more interesting data from
@CAPolicyLab
:
@susieneilson
@namisumida
Thank you for your kind words! I'm really passionate about photography and I'm glad people appreciate it. Here are some more epic sunsets from the last year. More at
Today's my six-year (!!!) anniversary in the Bay.
Grateful for new friends, burritos and the privilege of covering our changing region and immense challenges. I also wouldn't be as passionate about photography, nature or traveling if I hadn't made the leap.
A 30-year-old man died in the now-closed Whole Foods in Trinity Place's bathroom in September after overdosing on fentanyl and meth, according to SF Medical Examiner
Shoppers told me people urinated in the store and frequently stole despite high security.
.
@Guerrilla
's Horizon Forbidden West shows a San Francisco, aka Isle of Spires, ravaged by climate change and over a dozen landmarks destroyed, submerged — and fully explorable
It's a juxtaposition of beauty and sadness, says narrative director
@ben_mccaw
Update: Maria Calles, a temporary cleaner at SF's Marriott Marquis, said she was fired yesterday by Marriott contractor Environmental Service Partners after speaking to me about unpaid wages. She was waiting for bus to SF at 2 am.
San Francisco’s Marriott hotel strike has reached its 5th week. Temp workers are bused in from 100 miles away to clean rooms. Now they allege numerous labor violations
-Unpaid wages
-Not paid for all travel time or overtime
-Fired for talking to the union
Also: Whole Foods’ bet was far earlier than last year, the lease announcement goes back over five years, long before remote work. Trinity Place started construction 15 years ago. This wasn’t a spontaneous decision — the store cost $12 million per permits.
Whole Foods Market made a bet on a gritty San Francisco neighborhood last year. In April, the store closed, citing the safety of its employees. Many saw it as a representation of the city's slump, which could continue for years as companies vacate offices.
About a fifth of San Francisco residents between ages 25 and 29 left (or aged out of the group!) during the first 15 months of the pandemic.
@susieneilson
Westfield’s SF mall exit has a public financial stakeholder: the city’s school district and owns land under the mall, received $3.2 million in rent payments last year
There was a school on the site until the 1906 earthquake destroyed it
End of an era:
@jack
's Block, formerly Square, to leave Mid-Market ex-headquarters after a decade, in another pandemic-era blow: Uber is gone to Chase Center and Twitter, a block away, faces an uncertain future after the pending Elon Musk purchase
I wrote a story on New York for the first time in eight years. Seeing the city's comeback has been thrilling, but the challenges are vast — and not unlikely San Francisco's: 📸
@MaryKang23
📈📊:
@hil_fung
@AdrianaRezal
Coco Republic announces closure after just opening in Oct. 2022: "clear that downtown San Francisco is no longer a viable option" No serious crime incidents but customer traffic isn't enough, company told our colleague
@AlexShultz
@SFGATE
Less than a mile from Apple's HQ in Cupertino is a dying mall, where a four-year battle over growth could lead to 2,402 housing units (50% affordable), 1.8 million sq ft of office and up to 240-foot towers, thanks to
@Scott_Wiener
's SB35. My
#longreads
:
“SF is in far worse shape than New York,” says JPMorgan CEO. “I think every city, like every country, should be thinking about what is it that makes an attractive city...its parks, its art, but it’s definitely safety. It’s jobs...affordable housing"
San Francisco metro is most expensive place to live in the U.S. for 6th year in a row, mostly due to rents w/
@namisumida
Caveat: Fed ACS survey was delayed so housing data from 2019, not 2020. SF metro at 107% of national average, San Jose metro at 130%
Downtown San Francisco feels like a tomb. Once-crammed streets are desolate, with only the whoosh of automobile traffic stirring the air. Permanent remote work could extend the pain:
📸: me!
SF’s biggest and fourth biggest hotels face a $725 million loan maturity deadline in Nov — covering nearly 3,000 rooms or ~9% of the city’s entire supply. Owner Park Hotels is exploring “all options,” including giving the properties back to the lender
The Transamerica Pyramid block and interiors will get a $400 million makeover, in a huge bet on downtown San Francisco:
@FosterPartners
is the architect.
San Francisco's population fell 6.3%, most in the nation, in July 2020-21 to the lowest level since 2010. NYC was second at -3.5%, and multiple Bay Area cities saw losses around 3%
Scoop: Salesforce, San Francisco's largest private employer, gives up another big chunk of office space, listing 350,000 sq ft for lease at 50 Fremont next to Salesforce Tower: That's 40% of the 43-story highrise on the left