San Francisco's downtown just entered a new phase of its crisis as the city's most prominent shopping mall goes bust
are sprouting up. The hottest startup in the world, OpenAI, is headquartered there. There's a new post-COVID energy in some parts of the city. But that's at the high-end. For an urban area to truly thrive, it needs people from all walks of life to embrace the location — which has become hard for teachers, nurses, and other workers in San Francisco in recent years.
on Monday. The Chronicle broke the news that Westfield had stopped paying its $558 million mortgage and was surrendering its namesake shopping mall to lenders. The Westfield mall is the biggest mall in San Francisco. Tourists who come to experience the famous city often hang around nearby. It's the beating retail heart of the area. Or, at least, it was.
So, what happened? In a nutshell, there are just not enough people living and working in downtown San Francisco anymore. Office vacancies remain high. Nordstrom, an anchor tenant of the Westfield mall, is leaving.There are more problems nearby the mall. Here's a
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