In the last year, the vacancy rate of commercial space in the US has plateaued as online retail giants continue to move the average shopping experience from High Street to our desktops, tablets and phones. In response, Pop-Ups have become a growing trend in urban centers across the US, such as New York and San Francisco.
One such idea hatched at Creative Currency’s 48-hour design hackathon this past April has just popped. SQFT (pronounced ‘square foot’) is an online platform connecting entrepreneurial renters to short-term leases in San Francisco’s Mid-Market.
For decades, San Francisco’s Central and Mid-Market area has struggled with a number of challenges – high vacancy rates, grave physical blight, dwindling private investment, persistent homelessness, compromised citizen safety, and suffering small businesses. Yet it has many true assets – a central location, superior transit access, a diverse population, vibrant community and arts organizations, noteworthy architecture, and an abundance of public spaces.
With concerted revitalization efforts led by the City of San Francisco, the time is ripe with opportunity. Though there are longer term plans for a better, more united Market Street, SQFT is of the conviction that temporary pop-up activity can liven the area starting now. Tomorrow, in fact.
If you're a budding entrepreneur who wants to test out an idea, make sure to sign up on their online calculator and let SQFT know what kind of space you're looking for: yoursqft.com