Tag

Downtowns

All articles tagged with #downtowns

urban-development2 years ago

Downtown Woes: San Francisco's Uneven Pandemic Recovery

Vacant ground-floor spaces in downtown areas, particularly in cities like San Francisco, Washington, and Portland, are contributing to the decline of urban centers. These empty storefronts, with their drawn shades and outdated signage, create a sense of desolation and deter people from returning downtown. To revitalize these areas, cities need to rethink the purpose of ground-floor spaces and consider alternative uses such as health clinics, day care centers, university classrooms, fabrication shops, or public amenities like bathrooms. Developers and property owners must also shift their mindset and view ground-floor spaces as a way to add value to the floors above, rather than solely focusing on profitability. Reimagining the ground floor requires a shift in regulations, incentives, and community engagement to create vibrant and interactive street-level spaces.

business2 years ago

The Bay Area's Downtowns: Trapped in a Doom Loop?

The Bay Area's largest downtowns are facing challenges such as crime, homelessness, income inequality, remote work, online shopping, housing shortages, and poor transit alternatives. The decline of these downtowns has led to concerns about a "doom loop" that could transform them into ghost towns. However, city leaders are taking steps to revitalize these areas by offering grants to lure local pop-ups, making it easier to convert empty commercial buildings to housing, and encouraging commercial-to-residential conversions. While the old model may have changed, civic leaders believe there will be a new one.

business2 years ago

Navigating the Uncertainty of Commercial Real Estate in Today's Market

The commercial real estate industry is facing a potential crisis worse than the 2008 recession as businesses leave downtowns due to remote work and rising interest rates. Investment firms who own downtown buildings may not have enough money to pay off their loans to banks, leading to defaults. While some cities have seen a significant increase in empty office space, others are shifting towards more residential, retail, and entertainment spaces to make up for the loss of office crowds. The industry is expected to come out with scratches and bruises, but not a collapse of the banking system.