San Francisco: A City Crumbling Before Our Eyes
When you think San Francisco, you probably think of the Golden Gate Bridge, Silicon Valley, or maybe even Alcatraz Island…
However, when I think of San Francisco, I think of the next great American city to fail. San Francisco has been slipping for some time, but now it’s gaining national attention. How so?
Just this month, in San Francisco, we’ve seen:
Downtown Whole Foods closing one year after opening due to safety concerns
Highest ever office vacancy rate
Cash App founder, Bob Lee, stabbed to death in the street
Let’s talk about it:
Whole Foods Closes after 1 year in San Francisco
This Whole Foods was located in the city’s Mid-Market neighborhood, and nearly 65,000 square feet. For context, the White House is 55,000 square feet, so It was a big store to say the least.
And now, just 1 year after opening, the Whole Foods has closed its doors over concerns of “workers safety”. That’s exactly what you wanna hear for a new grocery story in your city.
San Francisco is a city where an income of $100k is considered ‘low". So you just know, losing Whole Foods was a punch in the gut for the community.
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Highest ever office vacancy rate in San Francisco
We’ve also seen a huge exodus of workers from San Francisco.
In 2021, the SF Metro lost 2.5% of its population, 116,000 people gone. This is especially a big deal for San Francisco’s because a lot of these people are higher-income, tech employees.
The people you DON’T want leaving your city.
And it’s reflecting in the office vacancies…
7.2% of total office inventory in San Francisco is up for sublease now, up from 2.8% in 2019.
Does the new ‘working remote’ trend have anything to do with this? Yes.
What about rising interest rates and increase in layoffs? Of course.
But the root of the problem - The cost of living is too expensive for what it is. Unsafe, dirty, and unkept. San Francisco ISN’T the place to be.
Not to mention San Francisco also has an additional 4 million square feet of office space that will be available by the end of 2025.
That’s it, calling it first here: In 20 years, San Francisco’s will be a ghost town.
Okay, that might be a bit exaggerated… But is it? San Francisco’s future isn’t looking bright.
Cash App Founder, Bob Lee, Stabbed to Death in the Street
This is just awful.
Bob Lee lost his life because this city has gotten straight dangerous.
Although his death has already sparked outrage over the safety of San Francisco, let’s be real, nothing will change.
On the slight chance any lawmakers or city officials are reading this…
Make a change before it’s too late.
Bob Lee and his kids
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