Demand for Office Space has Plummeted. What Does That Mean for San Francisco and the Bay Area?
San Francisco’s once-redhot office market has waned since the pandemic. Less than half of the workers who used to fill downtown office towers are working in person most days. That has led to high office building vacancies, lower revenue from property and sales taxes, and fewer workers riding transit and supporting local businesses. Now that working from home continues to be the norm, city leaders, landlords and merchants are wondering what to do next. We’ll dig into what this massive shift in the office market means for our region’s urban centers, economy and workers. Guests: Ted Egan, chief economist, San Francisco Controller's Office Karen Chapple, professor of city and regional planning, University of California, Berkeley Kevin Truong, staff writer, The San Francisco Standard Colin Yasukochi, executive director, CBRE Tech Insights Center