Mark Farrell Proposes 20-Year Vision for San Francisco Downtown

Mark Farrell, a Democratic mayoral candidate in San Francisco, aims to revitalize the city's struggling downtown over two decades, focusing on reducing office vacancies and boosting economic recovery. His plan includes creating a new park, mixed-use buildings, and offering tax incentives for companies relocating to the area or requiring employees to work in-office. With San Francisco facing a 34.5% commercial real estate vacancy rate, Farrell intends to halve this figure by the end of his first term. This initiative seeks to diversify industries beyond technology, addressing challenges exacerbated by the pandemic and the city's economic decline post-Covid.