San Francisco Downtown Development Corporation Appoints Shola Olatoye as Chief Executive Officer

Veteran community and housing leader to help build a cleaner, safer, more welcoming downtown for everyone

SAN FRANCISCO, Sept. 17, 2025 /PRNewswire/ -- The San Francisco Downtown Development Corporation (DDC), the nonprofit public benefit corporation working alongside civic, business, labor, and philanthropic partners to revitalize and reimagine downtown San Francisco, today announced the appointment of Shola Olatoye as its inaugural Chief Executive Officer. Downtown's recovery is widely recognized as essential not only to San Francisco's future, but also to the economic and cultural vitality of the entire Bay Area. This news builds on Mayor Lurie's recently announced "Heart of the City" Executive Directive, which mobilizes resources and introduces common-sense reforms to speed up downtown's transformation into a welcoming place where people live, work, play, and learn.

"Downtown is San Francisco's economic engine and the heart of the city," said Shola Olatoye. "I am honored to lead the DDC at this generational moment. In my first 90 days, I'll be out listening to residents, small businesses, workers, developers, and community partners. We'll turn that input into action people can see and feel: cleaner streets, safer neighborhoods, stronger businesses, and more people downtown. Together with City leadership and our partners, we'll show the world that San Francisco is back — and that our downtown can truly be a place for everyone."

"A strong downtown is key to San Francisco's comeback. The economic revenue generated downtown powers our transit system, funds our parks, pays our first responders, and sustains the critical services that help San Francisco's families thrive in every neighborhood," said San Francisco Mayor Daniel Lurie. "Our Heart of the City Executive Directive is accelerating downtown's recovery, and there's no better partner than the DDC to help drive this recovery. I look forward to working with the DDC's new CEO Shola Olatoye to continue to drive our comeback."

Launched in April, the DDC mobilizes private catalytic capital, business, and civic expertise to jumpstart near- and long-term economic development and cultural vibrancy downtown. Working closely with the City and business, labor, and community partners, the DDC helps identify, fund, and deliver priority projects that make downtown cleaner, safer, and more welcoming.

Thanks to initial start-up funding from the DDC's Board, leading businesses, and early donors from around the Bay Area, downtown projects are already underway. The DDC's early efforts include: daily power-washing in the Moscone Convention corridor; targeted recruiting of experienced police officers to help close SFPD's staffing shortage; stronger safety ambassador presence along Market Street; a sustained arts and activation plan, beginning with holiday programming and placemaking upgrades leading up to the Super Bowl; and transformative public realm projects, from the Powell Street cable car turnaround to a new 5-acre Embarcadero Park. The DDC builds on the heroic work of community-based organizations and Community Benefit Districts and private businesses — serving as a convener and partner to align resources, accelerate impact, and advance a unified vision for a reimagined downtown.

"Shola brings an incredible background in innovative housing policy and community development, a deep dedication to public service, and a proven ability to deliver results in complex environments — including a rare track record of leading public-private revitalization at scale," said David Stiepleman, DDC Board Chair. "With her leadership, the DDC will help deliver the visible changes and lasting partnerships that bring people back downtown and reestablish it as the heart of our city."

"I'm excited about Shola's plan to listen, act, and measure progress people can feel," said Chris Larsen, DDC Board Member and Co-Founder and Executive Chairman of Ripple. "San Francisco, and our downtown, have a special place in the world, and I encourage others to get involved to help drive change faster."

"A world-class downtown is driven by its people and culture," said Ghazi Shami, CEO and Founder of EMPIRE. "We're committed to the DDC's mission and will continue to support activations that get people out on our streets — enjoying music, gathering together, and supporting our businesses and community partners."

"I've worked closely with Shola for years, and she understands how housing, safety, and small business vitality fit together," said Rebecca Foster, CEO of the San Francisco Housing Accelerator Fund and DDC Board Member. "With her leadership, the DDC will help accelerate critical housing and public realm work and move us toward a true 24/7 downtown for residents, businesses, and diverse communities."

"When core elements of arts, culture, public spaces, residents, and local businesses work together, Yerba Buena and all of downtown come alive," said Scott Rowitz, Executive Director of Yerba Buena Partnership. "With Shola, the DDC brings cross-sector collaboration to help extend that energy across the downtown core, and her expertise in the housing sector is particularly important to adding residents in the area. We are excited about partnering to continue building upon momentum that will ensure downtown is welcoming, dynamic, and built for everyone."

Shola Olatoye is a proven housing and community development leader, most recently serving as Chief Operating Officer at Eden Housing. She previously led Oakland's Housing & Community Development Department, advancing over $100 million for housing production and preservation, securing six Homekey awards (400+ units), and launching a $48 million rental assistance program for over 3,000 residents. Earlier, she was Chair and CEO of the New York City Housing Authority (NYCHA) where she launched the $10 billion NextGeneration NYCHA plan. Shola will formally assume the CEO role at the DDC on October 1, 2025.

The DDC also announced the addition of Chris Meany to its Board of Directors. Meany brings decades of experience shaping transformative projects such as Treasure Island, Yerba Buena Island, and San Francisco's iconic Ferry Building. He joins an already distinguished board that includes Bob Fisher (Board Member, Gap Inc. and SFMOMA); Chris Larsen (Co-Founder & Executive Chairman, Ripple); David Stiepleman (DDC Board Chair, Co-President & Co-Founder, Sixth Street); Meg Whitman (Executive & former U.S. Ambassador); Olga Miranda (President, SEIU Local 87); Rebecca Foster (CEO, San Francisco Housing Accelerator Fund); and Sam Cobbs (CEO, Tipping Point Community). Together, this board of civic, labor, and business leaders underscores the DDC's commitment to a downtown for everyone.

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)