Skip to content

SAN FRANCISCO’S SKY-HIGH RENTS SEND BUSINESSES PACKING TO OAKLAND

August 20, 2015

By Carolyn Tyler : abc7news – excerpt

San Francisco’s sky high rents are not only pushing out some renters, but businesses as well.

Two companies have announced they’re leaving the San Francisco for Oakland.

The CEO of Brown & Toland can almost touch AT&T Park from his window, but the medical group is trading in a view for a less costly headquarters. By next April, its 280 employees from San Francisco and Emeryville will be settled into a new space at the Clorox building in downtown Oakland and the company will be saving nearly $2.5 million a year.

“Every bit we can save on the administrative cost structure allows us to support ours doctors and our patients for health care services,” said Richard Fish of Brown & Toland.

Other factors came into play including the ease of public transportation..

That was also a consideration for California’s stem cell agency, the Calif. Institute for Regenerative Medicine, as it searched for a new home. Money was a major factor. The agency, which provides funding for research, had a 10-year, no rent, free parking sweetheart deal with San Francisco in a building near the ballpark. That’s coming to an end.

“It’s a sellers’ market,” Kevin McCormack of the state’s Institute for Regenerative Health. “This place is so hot right now that landlords can get what they want.”

He says what they want is at least $1.5 million a year, so the stem cell agency also chose Oakland after searching the Bay Area. Besides economics and public transportation, Oakland officials and the companies agree the vibrancy of that city’s restaurant and art scene. Oakland’s director of Economic and workforce development says there’s a thriving renaissance.

“There are companies that are poised to come to Oakland and I think once one big one comes, one big one comes, the rest will follow,” said Mark Sawicki of Oakland Economic and Workforce Development.

San Francisco’s loss is Oakland’s gain… (more)

Is it time for the Mayor to go back to praying for jobs, jobs, jobs again? Or maybe just do what many are calling for and put the brakes on the whole development scheme until someone can figurer out how to rebalance what was once a balanced development plan. The citizens deserve better than going from one extreme to the next at the whim of city officials and corporate overlords.

These are scientists after all. They may also be concerned about the actual increase in bad air, due to slower moving traffic, (the longer it takes you to get there and park, the more time you are driving the more you are polluting), and the rise in sea levels that are coming faster than predicted.

Why bet on a sinking city? Do what many of us are going and vote for a change, starting with:

Anybody but Ed Lee

RELATED:
S.F.’s development boom chases out hep-C vaccine researchers
State’s stem cell agency leaves S.F. for Oakland as rent skyrockets

Advertisements
One Comment leave one →
  1. August 20, 2015 4:21 pm

    Reblogged this on Grassroots Actions and commented:

    1-2-3. Anyone but Ed Lee.
    Francisco Herrera, Stuart Shuffman & Amy Farah Weiss are mayoral candidates on the Nov. ballot in San Francisco – They answered the call for change that all seasoned professional Democratic leaders were told to avoid. Show them they were wrong.
    See more at: http://downwithtyranny.blogspot.com/2015/08/1-2-3-anyone-but-lee.html#sthash.xTci2ApS.dpuf

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: