During her annual State of the City address Thursday, San Francisco Mayor London Breed unveiled a new plan to revitalize the city’s struggling downtown area.
Breed’s goal with the 30 by 30 initiative is to attract 30,000 residents and students downtown by 2030.
“Downtown has always been the economic engine that funds the services we care about, and its post-pandemic difficulties are the driving reason for the deficit we now face,” Breed said from Pier 27.
Breed acknowledged the city’s economic reliance on industries operating from downtown offices. That dependence was made clear at the onset of the pandemic, with a persistent downtown office vacancy rate exceeding 30% due to the shift to remote work.
However, Breed also indicated that she believes technology companies still have a large role to play in fueling that economic engine.
