San Francisco Downtown Development Corporation Announces Over $60 Million in Early Contributions and Commitments to Revitalize and Reimagine Downtown

New private funding will fast track open and public space improvements, expand clean-and-safe
services, and launch small business support 

SAN FRANCISCO, Dec. 9, 2025 /PRNewswire/ -- The San Francisco Downtown Development Corporation (DDC), the nonprofit public benefit corporation working alongside civic, business, labor, and philanthropic leaders to revitalize the heart of downtown San Francisco, today announced over $60 million in contributions and commitments from philanthropic, corporate, and individual partners, including support from Google, Ripple, Thoma Bravo, Amazon, and OpenAI. This is one of the largest privately driven investments in downtown's post-pandemic recovery. It accelerates progress already underway and advances key priorities of Mayor Lurie's Heart of the City initiative.

Accelerating Clean-and-Safe, Small Business, and Open and Public Space Improvements

The early commitments announced today will fast-track several improvements, including:

• Expanded clean and safe services across the hospitality zone and high-traffic areas, including additional street ambassadors to welcome commuters and monitor conditions, enhanced lighting and safety cameras, better wayfinding, and efforts to recruit more lateral police officers to San Francisco to help address the police officer shortage.
• Launch of the Downtown Business Fund with our Business Fund partners to help new and existing businesses open and grow in currently vacant storefronts across high-traffic corridors such as Powell Street, Stockton Street, and other key retail areas.
• Targeted public realm upgrades, including advancing a transformative new Embarcadero Park — inspired by world-class public spaces like Millennium Park and Bryant Park — and improvements to the East Cut Crossing.
• Greater support for arts & culture — Building on recent funding to relaunch Downtown First Thursdays in 2026, the DDC is expanding its investment in dynamic public art across the city. This includes three new large-scale installations developed in partnership with the Institute of Contemporary Art San Francisco (ICA SF) — a block-length artwork in Yerba Buena and two additional site-specific pieces that will activate key corridors with vibrant, contemporary interventions.

These investments strengthen safety, cleanliness, economic activity, and public spaces as San Francisco prepares to welcome Super Bowl LX, the Pro Bowl, and FIFA World Cup events in 2026.

"Downtown should be a 24/7, world-class neighborhood – a place where people live, work, learn, and play," said Shola Olatoye, CEO of the San Francisco Downtown Development Corporation. "The DDC's early investments let us move fast: create cleaner and safer streets, attract new businesses and employers, and activate public spaces. We're already laying the foundation for a long-term vehicle that keeps investment flowing and powers downtown revitalization for decades. This work is strengthened every day through close collaboration with City Hall's dedicated downtown team. We're clear on our guiding principle: we are building a downtown for everyone."

"These investments are a powerful signal of what's possible for downtown's future," said David Stiepleman, DDC Board Chair. "Our partners stepping up now are planting a flag – making a visionary early investment that will reimagine downtown and drive more positive outcomes in our city for decades. They're joining at the moment when it matters most, helping us deliver immediate improvements while building something permanent and durable that San Franciscans and the world will be able to see, feel, and point to with pride."

"When downtown thrives, our residents, families, and small business owners all benefit. By strengthening public safety, cutting red tape, and leaning into our arts and culture, we are bringing people back to our streets," said San Francisco Mayor Daniel Lurie. "With $60 million committed, DDC can continue to make critical investments in our downtown recovery and our city's comeback."

"Google is proud to support this coalition to further accelerate the important work already underway to strengthen the economic future of San Francisco – a city the company remains deeply committed to, having called it home since 2007," said Maggie Johnson, Global Head and Vice President of Google.org at Google. "Strong public-private collaboration is essential to ensuring San Francisco's downtown continues to evolve as a thriving, vibrant destination for residents, workers, and visitors."

"Downtown isn't just a business district – it's our city's front door and where San Francisco greets the world. Millions of visitors land here first, and their experience shapes how they see the entire city," said Chris Larsen, Executive Chairman and Co-founder of Ripple and a DDC Board Member. "These commitments accelerate the clean-and-safe improvements, public spaces, and small business support that will help downtown thrive and grow. With major events bringing visitors from around the world in the next two years, this is exactly the kind of coordinated, forward-looking initiative that will continue the city's momentum and restore San Francisco's position as a trendsetter on the global stage."

"Downtown San Francisco has been Thoma Bravo's home in the Bay Area for more than 25 years, and we are excited to support the DDC to improve a neighborhood that is the heartbeat of innovation in this great city," said Orlando Bravo, Seth Boro, Scott Crabill, and Holden Spaht, managing partners at Thoma Bravo.

"A hopping and happening downtown that attracts the foot traffic needed for small businesses to thrive, allows our city's incredible restaurants to flourish, and taps into the artistic cultural vibe of the community is in the best interest of all of us who love this special city and are lucky enough to call it home," said Chris Lehane, OpenAI Chief Global Affairs Officer. "We know so many of OpenAI's employees appreciate that San Francisco is a special place. The leadership of Mayor Lurie will mean more and more people who left their hearts in San Francisco will be coming back to the downtown of the city by the Bay."

"Amazon proudly invests in communities where our employees live and work. We applaud the DDC and Mayor Daniel Lurie's vision for an even more vibrant San Francisco," said Andrea Fava, Vice President of US Public Policy at Amazon. "The city's downtown has long been a catalyst for innovation and cultural exchange, and this investment reinforces Amazon's commitment to San Francisco's future."

"Downtown San Francisco sets the tone for the entire city. Rebuilding it requires early leadership and collective commitment. We support the mayor and the DDC's goals for revitalization, and view this pledge as a catalyst for broader industry action to meet this critical moment," said Emerald Fund, Fifth Space, Presidio Bay, and TMG Partners.

"Citizens is deeply committed to San Francisco's success — through investments in small businesses, support for affordable housing, and robust community partnerships that drive economic opportunity through workforce development and financial literacy," says Mark Lehmann, Citizens' California President. "On the small business front, we have Business Bankers who work shoulder‑to‑shoulder with local owners and provide practical advice, capital and day‑to‑day problem‑solving. At the same time, we're expanding our local Private Bank, Private Wealth and Commercial teams to deliver integrated solutions that help entrepreneurs grow and thrive. San Francisco is a dynamic and resilient city and we are excited to be at the center of it."

"Strengthening San Francisco's commercial corridors requires collaboration and sustained investment from across the community," said Ben Walter CEO Chase for Business. "Drawing on more than a century of partnership with the city, JPMorganChase is investing in local entrepreneurs, expanding access to capital and expertise, and helping small businesses grow to build even more vibrant neighborhoods across San Francisco."

"Visa Foundation's contribution to SFDDC underscores our continued dedication to helping San Francisco thrive. Since 2019, Visa Foundation has directed more than $25 million to our local community. We are proud to join the SFDDC and thankful for the opportunity to continue serving the Bay Area," said Jeremy Sturchio, Senior Vice President, Global Head of Social Impact & Sustainability, Visa.

"Downtown San Francisco is turning a corner, and today's commitments make clear the confidence stakeholders have in its future. The DDC's investments amplify the work our teams are doing every day, driving foot traffic, supporting local businesses, and reenergizing public spaces," said Robbie Silver, President and CEO of the Downtown SF Partnership. "This is the kind of cross-sector collaboration it takes to accelerate a real revival. We're proud to stand with the City, the DDC, and our fellow districts to deliver a downtown that is vibrant, welcoming, and ready to meet the global moment ahead."

Leveraging Public Financing Mechanisms

The DDC is also laying the foundation for a new model to transform public, private, and philanthropic capital into flexible, long-term financing tools to support large-scale downtown capital projects. Building on successful approaches in New York and Detroit, this model would help unlock public financing and other capital to deliver lasting investment in downtown San Francisco.

Momentum Across the Heart of Downtown

Downtown San Francisco is showing meaningful signs of stabilization and improvement, including:

• 112% year-over-year growth in office demand, with companies across finance and tech — including JPMorgan, OpenAI, and Notion — choosing and expanding downtown.
• 656,509 hotel room nights at the Moscone Convention corridor in 2025 — a 64% increase from 2024.
• 618,160 room nights have already been booked for 2026, with major conferences like Microsoft Ignite returning to San Francisco.
• Crime is down 30% citywide and 40% in the downtown core, supported by targeted clean-and-safe efforts.
• Growing foot traffic, more restaurant and retail openings, and upcoming global events centered downtown.

Much of this momentum is thanks to the work of the Mayor, City and County of San Francisco government, and partners across downtown — including the Yerba Buena Community Benefit District, Downtown SF Partnership, East Cut Community Benefit District, Union Square Alliance, Mid-Market Community Benefit District, SF New Deal, Civic Joy Fund, the San Francisco Chamber of Commerce, Advance SF, Mid-Market Business Association, and Into The Streets — organizations working alongside DDC to bring new life and activity back to the core of downtown.

Since launching in April, the DDC has named Shola Olatoye as its inaugural CEO and, with its partners, has delivered visible and tangible progress that is already being experienced by workers, residents, and visitors, including:

• Expanded power washing and deep cleaning in the Moscone Convention corridor from twice a month to Monday through Friday service.
• Helped fund the Market Street Safety Program pilot, which has driven 53% reductions in safety-related 911 calls at Embarcadero and Montgomery BART stations.
• Provided catalytic investment to extend Downtown First Thursdays – which attracted over 300,000 visitors in 2025 – for a full 2026 season, as well as supported marquee holiday events like Let's Glow and Winter Walk.
• Committed funding to improve the East Cut Crossing and accelerate planning for Embarcadero Park and other transformative public realm projects.
• Developing the Downtown Business Fund to reduce storefront vacancies in high-traffic downtown corridors.

Watch the DDC announcement video to see how this early momentum is already reshaping the heart of downtown.

DDC's early contributors include individuals, corporations, philanthropic institutions, and community partners. The list is organized by tier and will be updated as additional commitments are finalized:

DDC Board of Directors
Sam Cobbs
Randi and Bob Fisher
Rebecca Foster
Chris Larsen
Olga Miranda, President, SEIU Local 87 & San Francisco Labor Council Secretary Treasurer
Chris and Michele Meany
Carey Lifschultz and David Stiepleman
Meg Whitman/Power Station

Founding Partners
Anonymous
The Dolby Family
Emerson Collective
Google
Hellman & Friedman LLC
John Pritzker Family Fund
Ripple
Salesforce
Sixth Street
Thoma Bravo
TPG

Headline Partners
Amazon
Emerald Fund, Fifth Space, Presidio Bay, and TMG Partners
Leah & Ben Spero
ValueAct Capital
Visa Foundation

Anchor Partners
Sapna and Brandon Boze
Ron Conway
Katherine and David deWilde
Matt and Lauren Dillard
Flynn Properties and DRA on behalf of Market Center
Jonathan and Meredith Meeks
OpenAI
Partners of Francisco Partners
Prado Group
Charles and Helen Schwab Foundation
Emily Scott/The Resiliency Fund

Supporting Partners
Mei and Herald Chen
Cleary Gottlieb Steen & Hamilton LLP
Cushman & Wakefield
Debevoise & Plimpton LLP
Andrew and Molly Dodson
Ellis Partners
EMPIRE
Gap Inc.
Kirsten and Michael Green
JMA Ventures
Robin Joy
KPMG U.S. Foundation
Levi Strauss & Co.
Bornah Moghbel
Pat Robertson
Shorenstein Company
Lior Susan
April Underwood and Matt Herrero
Warburg Pincus LLC
Tony Xu and Patti Bao
Y Combinator

Downtown Business Fund Partners
Bank of America
Citizens
JPMorganChase

About the San Francisco Downtown Development Corporation:
The DDC is a nonprofit public benefit corporation formed to revitalize and reimagine downtown San Francisco. Led by a coalition of business, labor, and philanthropic leaders and working in close coordination with the City, the DDC brings together private investment, civic leadership, and cross-sector coordination to create a more vibrant, resilient, and inclusive downtown.

SOURCE San Francisco Downtown Development Corporation (DDC)