Why Mid-Market Is the Next Big Thing
With 18 new tech companies, two co-working facilities and two VC co-working firms, Mid-Market is on track to become the next hot spot in SFO real estate. That's why we're excited to host Bisnow's Future of Mid-Market event, this Friday at Hotel Nikko, starting at 7:30am.
We already told you about some major projects headed to Mid-Market, but behind the big development drive is the City's point person from the Office of Economic and Workforce Development (OEWD), Amy Cohen (left, snapped at the opening of The Hall at 1028 Market), whose coordination efforts have helped bring more than 11,000 new employees to the area over the past three years. As the City prepares to release an updated strategy that includes the Tenderloin, come hear about programs aimed at helping grow existing businesses, retaining and growing arts groups and nonprofits in the neighborhood, and a range of public and private physical improvements planned for the area.
Since the strategy launched in 2011, more than 5,600 units of housing (20% of which will be below market rate) are now under construction or approved for the area, and another 4,000 units are proposed. The storefront vacancy rate is down from 30% in 2010 to 16% today, she says, and 13 new arts venues have opened with four more on the way. Above is a look at a planned Mid-Market housing project at 1400 Mission, which should be complete this summer. Come hear from Amy and our all-star panelists at Bisnow's Future of Mid-Market event Friday at Hotel Nikko, starting at 7:30am. Sign up here.