Rebounding downtowns?

[jon-nyc]

While office visits nationwide reached 72.2% of pre-pandemic levels, the rebound in New York City and Miami led the nation, with both regaining 90% of their July 2019 foot traffic, according to Placer.ai.

[George K]

Chicago and San Francisco are not following that trend.

https://www.chicagobusiness.com/commercial-real-estate/loop-retail-vacancy-reaches-new-high

Nearly four years since the first lockdown of the COVID-19 pandemic, the number of empty storefronts in the Loop has surpassed a daunting threshold: More than 30% of the central business district’s retail space is vacant.
The Loop retail vacancy rate increased for the fourth year in a row in 2023, rising to 30.13% from 28.32% in 2022, according to a report from Chicago retail brokerage Stone Real Estate. That’s more than double the pre-pandemic rate of 14.92% in 2019 and the highest level since 2002, when Stone began tracking the Loop market.

I saw a story that Detroit is on the upswing.

[jon-nyc]

Related interesting point. When foot traffic is way down crime statistics can appear better than they are - much smaller denominator.

Having said that, I was in LA and SFO last month and they seem much better. Newsome has an eye on 28/32.