Downtown Business Fund Launch Event

San Francisco has launched a $25 million Downtown Business Fund to help businesses open and expand in the city’s core. (prnewswire.com) The fund was announced April 16 by the San Francisco Downtown Development Corporation, a nonprofit public benefit corporation created to lead downtown revitalization. It combines grants, affordable loans, referrals, and technical help for tenants trying to lease, design, build out, and open space. (prnewswire.com) The first target areas are Powell Street between Union Square and Market Street, plus the Moscone Center corridor along Stockton Street and Fourth Street. SF New Deal is serving as an operating partner, and early supporters include Citizens, Google, and JPMorganChase. (prnewswire.com) The push comes after years of weak downtown foot traffic tied to remote work. San Francisco says about 470,000 people commuted downtown each day before COVID-19, and the loss of that flow squeezed nearby retailers and restaurants. (sf.gov) City data still shows the strain. The Office of Economic Analysis reported in February 2025 that downtown employee visits rose through 2024, but shopper visits fell, and the city’s office vacancy rate dipped only slightly in the fourth quarter, to 34.3%, after years of increases. (media.api.sf.gov) This fund also sits on top of earlier city programs aimed at empty storefronts. In October 2025, San Francisco expanded its Downtown SF Vibrancy Loan Fund so eligible businesses could access up to $150,000 through a low-interest loan paired with a city match grant. (sf.gov) Another piece is Vacant to Vibrant, the pop-up storefront program run with SF New Deal. City Hall said in March that the program opened three new pop-ups and one long-term lease downtown, after launching nine new pop-ups in 2025. (sf.gov) Mayor Daniel Lurie has tied those storefront efforts to a broader downtown agenda. In March, his office said more than $60 million had been committed to the Downtown Development Corporation, and in November 2025 it said the mayor’s “Heart of the City” plan had raised more than $50 million for downtown recovery work. (sf.gov, sf.gov) Backers say the new fund is meant to make one process out of several scattered ones. The Downtown Development Corporation described it as a “no wrong door” system so businesses can seek financing, design help, and leasing support through one entry point instead of separate programs. (prnewswire.com) What comes next is whether that money turns vacant addresses into signed leases on Powell Street and around Moscone. San Francisco has already tested grants, pop-ups, and loan programs; this week’s launch folds those downtown bets into a larger private-backed fund. (prnewswire.com, sf.gov)