San Francisco, CA
Despite downtown SF’s current rough patch, prominent business leaders are investing in it
SAN FRANCISCO (KGO) — Office vacancies in downtown San Francisco hit their highest level ever in the first quarter of this year. But despite all this, some local CEOs say they’re doubling down on San Francisco and still believe the Bay Area is the place to be.
For Bay Area native Chris Larsen, San Francisco current troubles are nothing new.
“We’ve seen this many times before. You know San Francisco is a story of boom, bust and, kind of, reinvention.”
For much of the last decade, the city was in a fantastic boom.
New, gleaming skyscrapers, exponential economic growth and a tech sector that seemed like it would never crash.
But the good times did come to an end – thanks largely to the pandemic and the advent of work from home.
MORE: Lowering downtown SF real estate values could have ‘profound impacts’ on city budget, official says
Now, many of those same skyscrapers sit empty downtown, nearly a third off all office space is vacant, and business after business is seemingly fleeing the city.
“This is one of those transformations you haven’t seen in 50 plus years,” said Chris Larsen.
Chris Larsen is a CEO and investor. He tells ABC7 News despite this difficult period, he thinks the city’s future is bright.
That’s why his tech company, Ripple, is bucking the trend.
They recently signed a lease for a new, 130,000 square foot headquarters downtown.
MORE: SF launches ‘Vacant to Vibrant’ program to fill downtown vacancies with pop-up shops
“I think it’s the most creative and accepting place on the planet, which is why you see so much innovation coming out of here. That’s not a coincidence,” Larsen said.
Larsen says the city certainly has its share of challenges to deal with, most notably public safety concerns and homelessness.
But he rejects the notion that San Francisco is dying, saying the economic foundations of the past are still sound.
Data from the Bay Area Council backs that up.
Consider these stats.
Of the 10 most valuable companies in the country, six of them are based in the region.
Between 2020 and 2022, of the companies worth more than $10 billion that went public, two-thirds were from the Bay Area.
MORE: Here are all the changes coming to SF Union Square’s retail scene
And for companies worth more than $1 billion? The Bay Area also topped that list.
“For really world changing ideas to take root and thrive, you need a population and environment that is supportive of people who think differently,” said Randy Howder.
Ripple isn’t alone.
Randy Howder is the co-managing director of Gensler – the world’s largest architecture firm.
They too are investing millions and moving to a new space in the historic Mills Building on Montgomery Street.
“Art Gensler himself came from New York in the 60s and was able to create this company that really changed the face of our industry. And I think that was only possible by being here,” Howder said.
MORE: San Francisco officials introduce plan to convert vacant downtown offices into housing
As the city goes through this latest transformation, Gensler is working with elected leaders.
A growing trend of local companies stepping up to do more to help San Francisco.
Howder tells me one thing Gensler is focusing on, is helping the city rethink downtown and the potential of converting empty office space to homes.
“Thinking differently about development, about who belongs in the neighborhood and how we can kind of transform it to be something that’s more of a destination,” Howder said.
So what comes next for the city by the bay?
The truth is, nobody knows for certain.
But one thing both Larsen and Howder are sure of, that despite the rough patch now, there’s nowhere they’d rather be than San Francisco.
“There’s a whole cottage industry of people who love to predict San Francisco’s demise and they’ve been proven wrong every time,” Howder said.
If you’re on the ABC7 News app, click here to watch live
San Francisco, CA
San Francisco hotel workers agree pay rise after 3-month strike
What’s New
Hilton hotel workers in San Francisco voted on Christmas Eve to approve a new union contract after a 93-day strike, according to the Unite Here Local 2 union.
The union, which represents about 15,000 workers in the region, announced that the deal settles the last of the city’s 2024 hotel strikes, covering approximately 900 Hilton workers.
Newsweek has contacted Unite Here Local 2 and Hilton via email for comment.
Why It Matters
The new contracts after this year’s strikes establish significant improvements in wages, health care and workload protections for workers at Hilton, Hyatt and Marriott-operated hotels.
The agreements conclude months of labor unrest that involved thousands of workers and disrupted San Francisco’s hotel industry.
What To Know
Hilton workers voted 99.4 percent in favor of the agreement on Christmas Eve, which includes a $3 per hour immediate wage increase, additional raises, and protections against understaffing and increased workloads.
The four-year contract preserves affordable union health insurance and provides pension increases. The deal covers workers at Hilton San Francisco Union Square and Parc 55, with 650 workers having actively participated in the strike.
This agreement follows similar contracts reached with Hyatt workers on Friday and Marriott workers last Thursday, covering a total of 2,500 workers who had been on strike since late September.
What People Are Saying
Bill Fung, a housekeeping attendant at Hilton San Francisco Union Square for 29 years, said: “These 93 days have not been easy, and I’m so proud that my coworkers and I never gave up. We stood together through the rain and cold, and even though there were some hard days, it was all worth it. We will go back to work with our health care, good raises, and the confidence of knowing that when we fight, we win.”
Lizzy Tapia, President of Unite Here Local 2, said: “Hilton, Hyatt, and Marriott workers refused to give up their health care or go backwards – and we proved on the picket line that we’re not afraid of a tough fight. As contract talks begin with the city’s other full-service hotels in the new year, they should know that this is the new standard they must accept for their own employees.”
San Francisco Mayor-elect Daniel Lurie said on X: “All those that have been out on strike will be back to work, and just in time for Christmas. So, things are looking bright as we head into 2025.
What Happens Next
Unite Here Local 2 said it would push for other full-service hotels in San Francisco to adopt the same standards established by the Hilton, Hyatt, and Marriott agreements when contract negotiations resume in 2025.
San Francisco, CA
San Francisco hotel workers approve new contract, ending 3-month strike
SAN FRANCISCO — San Francisco Hilton hotel workers who have been on strike for the past three months voted Tuesday to approve a new union contract.
The approval by Unite Here Local 2 in San Francisco settles the last of three hotel strikes in San Francisco this year, union officials said.
The strikes at Marriott, Hyatt and Hilton hotels throughout the city began in the fall. Marriott workers reached agreements on Thursday, with Hyatt doing the same on Friday.
San Francisco Hyatt Hotel union workers unanimously approve new contract
The Hilton agreement is the same as those ratified by striking Hyatt and Marriott workers last week, according to Ted Waechter, spokesperson for the Unite Here Local 2 union.
The agreement applies to about 900 workers, 650 of which have been on strike for over three months, according to Waechter. The hotels include the Hilton San Francisco Union Square and about 250 workers at Hilton’s Parc 55 hotel, who had been prepared to go on strike.
All the deals with hotels include keeping the workers’ health plan, wage increases, and protections against understaffing and workload increases.
Many of the 2,500 hotel workers had been striking for about 93 days, picketing daily in Union Square, which is the site of a Hilton and the nearby Grand Hyatt on Stockton Street.
SF Hyatt Hotel union workers on strike to vote on ratifying tentative agreement for new contract
“These 93 days have not been easy, and I’m so proud that my coworkers and I never gave up,” said Bill Fung, a housekeeping attendant at the Hilton San Francisco Union Square for 29 years. “We stood together through the rain and cold, and even though there were some hard days, it was all worth it. We will go back to work with our health care, good raises, and the confidence of knowing that when we fight, we win.”
Hilton media representatives did not immediately respond to a request for comment.
San Francisco Mayor-elect Daniel Lurie on Tuesday issued a statement welcoming an end to the strike, saying it came just in time for the holiday season and allows workers to return to work for key events such as the JP Morgan Health Care Conference and NBA All-Star Game.
Unite Here Local 2 represents about 15,000 hotel, airport and food service workers in San Francisco and San Mateo counties and represented the striking hotel workers.
Copyright 2024 by Bay City News, Inc. Republication, re-transmission or reuse without the express written consent of Bay City News, Inc. Is prohibited.
San Francisco, CA
San Francisco Giants Gold Glove Catcher Projected For Huge Season
The San Francisco Giants have made some huge offseason moves already and hope they aren’t done just yet, but as is the case for every team that doesn’t win the World Series, the most important development will have to come from within.
One player who took a huge step from 2023 to 2024 and will try to improve even further in 2025 is Giants catcher Patrick Bailey. After a beyond solid rookie season in 2023 in which he finished in the top-ten for the National League Rookie of the Year, Bailey won a Gold Glove in 2024.
While the offensive output was similar to his rookie season and not anything to write home about, there’s confidence the bat will come along for the 25-year-old.
In an article naming breakout stars in 2024 who are due for a huge season in 2025, Bailey was one of the first names mentioned by Will Leitch of MLB.com.
“Bailey led all players in Statcast’s fielding run value metric (plus-22), and FanGraphs, which factors pitch framing into its WAR calculation, had Bailey third among catchers with 4.3 WAR,” Leitch wrote. “At age 25, Bailey already has won as many Gold Gloves as Posey — now his team’s president of baseball operations — did over his whole career.”
Leitch pointed out that Bailey has established himself to be San Francisco’s catcher of the future, something that seems undeniable at this point. If the former first-round pick can develop his bat to the point where he is hitting at least close to the same rate as he was raking in the minor leagues, he will have a chance to become one of the best catchers in baseball.
Through 218 games over his first two seasons in MLB, Bailey has posted a batting average of .234, an OPS of .640, slugged .348, and has hit 15 home runs and 94 RBIs. Certainly not numbers that will blow you away at the plate, but his defense has more than made up for it and allowed the Giants to be patient with his bat.
In 193 minor league games since being drafted No. 13 overall in 2020, Bailey hit .251 across all levels and had an OPS of .779. He also showed an encouraging level of power with 25 home runs, but has struggled to replicate that in the big leagues thus far.
Having already established himself to be one of the best in the game on defense, Bailey will have a chance in 2025 to enter the upper echelon of catchers across the game if he can have the breakout season he appears poised to.
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