A major beneficiary of the last decade’s boom as young workers flocked to a lively urban centre, it is floundering from an exodus of people and empty buildings.
San Francisco’s Westfield mall was for decades the city’s premier shopping destination, a nine-storey complex in the heart of downtown known for its iconic glass dome and spiral escalators.
San Francisco, a major beneficiary of the last decade’s boom as young workers flocked to a lively urban centre, The Bay Area’s centre of gravity is shifting to areas that are more “business friendly, larger, and have a greater talent pool,” Mahan said in an interview. “I predict one day it will be the San Jose-Bay Area.”
The region’s public services are also feeling the strain. While Silicon Valley’s bus and train operator expects a 10-year surplus thanks to higher sales tax revenue from local and online shopping, transit agencies serving downtown San Francisco have scrambled for funding to avoid service cuts.
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