San Fransicko collapse watch! - Designated shitting thread!

[Tsukasa Kadoya]

And the people (I use the term loosely) in those gated armed communities will be loudly demanding unrestricted migration, gun control, decriminalisation of everything (except gun ownership) and all the progressive degenerate bullshit that leads to this societal collapse.

Retards gonna be retarded.
Anyone who lives in Cali and doesn't understand their mentally inept voting habits caused this state to die out are dumber than literal retards

 

[Super-Chevy454]

Timcast vlogged about an article who said than San Francisco is worse Afghanistan.

Detroit, Cleveland, we got now a new scapegoat with San Francisco.

 

[Jonah Hill poster]

Retards gonna be retarded.
Anyone who lives in Cali and doesn't understand their mentally inept voting habits caused this state to die out are dumber than literal retards

If anything, it's no different than recent story of black residents from Chicago disliking the idea of housing illegal aliens in their neighborhoods and schools, despite the fact that they have not done anything to curb gun violence or recognize that their own excuses on "gentrification" towards white residents have done nothing to explain why their neighborhoods have become unsafe due to the polices that made it possible.

 

[Cellofayne]

Last time i visited was 7 years ago and i swear what i saw in one of the BART stations near City Hall could of been a cut scene in Jacobs Ladder.
Can't imagine what it's like now.

I visited San Fran quite a few times in the past. It is my favorite city, but the last time I was there was about 6-7 years ago and I'm a bit worried about going back in case it fucks up my memories and knocks it off the top slot. I'm planning on taking my kids there soon, mostly to do the touristic stuff. Is there anywhere that's safe and nice to stay still? Stay outside the city and BART in?

 

[clipartfan92]

Hotelier Writes Off San Francisco, Citing ‘Major Challenges’
The New York Times (archive.ph)
By Lauren Hirsch
2023-06-06 20:19:04GMT

Park Hotels & Resorts, the operator of two of the most prominent hotels in San Francisco, is handing in the keys on the properties — and, in essence, giving up on a city that has fallen on hard times.

 

[Canned Ham]

Hotelier Writes Off San Francisco, Citing ‘Major Challenges’
The New York Times (archive.ph)
By Lauren Hirsch
2023-06-06 20:19:04GMT

Press Release

Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSEK) today announced that, starting in June, it ceased making payments toward the $725 million non-recourse CMBS loan which is scheduled to mature in November 2023, and is secured by two of its San Francisco hotels—the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco. The Company intends to work in good faith with the loan’s servicers to determine the most effective path forward, which is expected to result in ultimate removal of these hotels from its portfolio.​

“This past week we made the very difficult, but necessary decision to stop debt service payments on our San Francisco CMBS loan,” commented Thomas J. Baltimore, Jr., Chairman and Chief Executive Officer of Park. “After much thought and consideration, we believe it is in the best interest for Park’s stockholders to materially reduce our current exposure to the San Francisco market. Now more than ever, we believe San Francisco’s path to recovery remains clouded and elongated by major challenges – both old and new: record high office vacancy; concerns over street conditions; lower return to office than peer cities; and a weaker than expected citywide convention calendar through 2027 that will negatively impact business and leisure demand and will likely significantly reduce compression in the city for the foreseeable future. Unfortunately, the continued burden on our operating results and balance sheet is too significant to warrant continuing to subsidize and own these assets.

Street niggers claim another victim.

 

[Betonhaus]

Street niggers claim another victim

Oh that's clever, instead of trying to sell those properties for pennies on the dollar, take out massive loans using their equity to secure them, then refuse to pay so the bank takes the properties only to find that nobody will touch them.

 

[Gar For Archer]

Oh that's clever, instead of trying to sell those properties for pennies on the dollar, take out massive loans using their equity to secure them, then refuse to pay so the bank takes the properties only to find that nobody will touch them.

Pretty based honestly.

 

[Coo Coo Bird]

Late and gay, but San Francisco finally found a sure-fire way to get people to come back!

San Francisco selects D’Arcy Drollinger as first drag laureate in US​

New York Post / Archive

“My goals are to make San Francisco sparkle. I think drag performers bring a lot of sparkle and humor and glamor and silliness to the world. I think that is part of why drag is so successful,” said Drollinger, a man who uses feminine pronouns when in drag.

She said she intends to be in drag “pretty much 24/7 for the next 18 months.”

She begins her new role weeks before Pride Month gets underway.

Her duties, which earn her a $55,000 stipend, will include producing and taking part in drag events while serving as a spokesperson for San Francisco’s LGBTQ community.

“I hope that the drag laureate position telegraphs to the rest of the country that drag is not something to be scared of,” Drollinger, who owns Oasis nightclub, said. “Drag is something to celebrate.”

‘It’s a win-win’: S.F.'s first drag laureate reveals plans for first 100 days​

San Francisco Chronicle / Archive

Drollinger, 54, was in full paint following a morning television interview on May 31, ahead of recording an episode of The Chronicle’s #TotalSF podcast. Later that night, Drollinger hosted actor and activist Jane Fonda at Oasis, the South of Market nightclub he opened in 2015 with the late Heklina.

All the while, Drollinger is preparing for another turn as Samantha Jones in the club’s “Sex and the City Live,” set for June 15-July 8; is running her year-old nonprofit organization Oasis Arts, dedicated to supporting queer art across mediums; and is in pre-production on a new film, “Champagne White and the Temple of Poon.”

Add to that the drag laureate’s responsibilities — which include but are not limited to fostering new relationships between the LGBTQ communities and city agencies, creating new drag events for San Francisco, being a spokesperson for the local queer community and promoting the unique art of San Francisco drag — and you have one busy queen.

Problem solved!

 

[Jump]

link
non-ZH link (SF Chronical)

Interesting chart for Residential home prices by metro in the ZH story.

 

[anustart76]

drag laureate

What in the nigger-loving faggot fuck is a "drag laureate"?

 

[Coo Coo Bird]

What in the nigger-loving faggot fuck is a "drag laureate"?

It's like being a poet laureate, except instead of composing poems for special events, you prance around in a dress while ignoring junkies overdosing in the street.

 

[Elwood P. Dowd]

Oh that's clever, instead of trying to sell those properties for pennies on the dollar, take out massive loans using their equity to secure them, then refuse to pay so the bank takes the properties only to find that nobody will touch them.

I'm pretty sure the bank could go after the owner for any difference between the unpaid loan balance and what they're able to sell it for. The question is, would something like this force them to write down on their GAAP financials the value of any other loans they've extended. Meaning maybe they won't.

FWIW, there's also this:

Wells Fargo Sells San Francisco Office Tower at $60M Loss
The buyer of 13-story building will pay less than half of original acquisition value.

Nearly a third of the offices in San Francisco are empty, a vacancy rate that approached 30% in the first quarter of 2023.

Crazy shit, considering what a boom town it was just a few years ago.

 

[A Sentient Cloud]

It's a lot of things. Government finally figured out they just need to get the fuck out of the way and good investments started to happen. IndyCar is coming back to down town Detroit and signed for 3 years. That's Superbowl type windfall for your local economy.

Ive been to SF and Detroit semi recently. SF was a absolute shithole when was there not to long ago and it sounds like it has only gotten exponentially worse. If I had to live in a city given the choice of SF or Detroit I would 107% chose D every single time. People who live in SF really exist in a total bubble. They have no idea how nicer and easier things are in other cities and they are completely smug about it.

Detroit is cool as hell now, it's unbelievable how well they've cleaned up downtown. It's clean, well maintained, lots of development, very visible police, no significant homeless, greenspaces beautifully maintained. I had no concerns parking my car and the street and walking a couple blocks alone to my hotel in the middle of the night. Can't think of any other major city in the US I'd consider doing that these days except for maybe Boston.

 

[Ghostse]

Detroit is cool as hell now, it's unbelievable how well they've cleaned up downtown. It's clean, well maintained, lots of development, very visible police, no significant homeless, greenspaces beautifully maintained. I had no concerns parking my car and the street and walking a couple blocks alone to my hotel in the middle of the night. Can't think of any other major city in the US I'd consider doing that these days except for maybe Boston.

Its amazing what happens when you actually crack down on hobos and TNB, and don't like wildin' chimps and wiggers torch your downtown because a drug addict dies in custody in another state.

I have heard they also learned from cities like Nashville where the pick a run-down neighborhood or satellite city and tell the ghetto trash "We are cleaning up downtown. But if you move there, you can get up to whatever drugland shit you want to without the cops hassling you"; accurate?

 

[Canned Ham]

Westfield San Francisco Centre will be given up to its lender as the mall's owner pulls out from the Downtown San Francisco property that's been hit by a string of economic shocks.

Most recently, the mall was rocked by the announcement in May that Nordstrom would not renew its lease, leaving a huge hole across five floors of the mall. The mall's occupancy rate currently sits at 55% with the string of recent closures.

"Given the challenging operating conditions in Downtown San Francisco, which have led to declines in sales, occupancy and foot traffic, we have made the difficult decision to begin the process to transfer management of the shopping center to our lender to allow them to appoint a receiver to operate the property going forward," Westfield said in a statement.
...
In the wake of Nordstrom’s announcement that it would close its store in the Westfield mall, the co-owner Unibail-Rodamco-Westfield said the planned closure “underscores the deteriorating situation in Downtown San Francisco.” Businesses are leaving Downtown due to unsafe conditions, the company said.

Law enforcement dispatch data shows police regularly patrolled the mall. Officers logged almost 560 “passing calls”—when officers patrol an area to demonstrate a police presence—at the mall from May 1, 2022, to May 1, 2023.

San Francisco’s emergency dispatchers also received reports of hundreds of potential crimes during the same time period. The data shows reports of 118 petty theft incidents, 64 fights, 41 grand thefts and 24 burglaries.

S | A

 

[Celebrate Nite]

I saw a YouTube video about Japan that talked about how most westerners assume Japan as a futuristic wonderland, which it used to be in the 70s, 80s, and 90s, but now it's time locked there, with people still using flip phones and fax machines.

>but now it's time locked there, with people still using flip phones
Given the current pajeetware/chinkware dystopia we are currently experiencing with Apple/Android, flip phones sound like the better deal.

 

[Ghostse]

S | A

Best option for the lender would probably be to 'seal' the mall and turn it into office space. Not sure how viable that is now that Breed has done everything possible to drive away tax-paying business so that nogs can wild, illegals can sponge without worry, cartels can move drugs unimpeded, and addicts can shoot up heroin across the street from the schools.

 

[Canned Ham]

Best option for the lender would probably be to 'seal' the mall and turn it into office space. Not sure how viable that is now that Breed has done everything possible to drive away tax-paying business so that nogs can wild, illegals can sponge without worry, cartels can move drugs unimpeded, and addicts can shoot up heroin across the street from the schools.

There's a glut of office space, with Uber, Google, Salesforce, and other companies leaving due to negroes crime and trannies the political climate.

There is serious talk about turning empty offices into housing, but nobody wants to live in that hellscape. Workers who aren't coming into the office aren't going to go live in the Mission district. Maybe Florida and Texas could send their illegals to SF instead,

 

[Ghostse]

There's a glut of office space, with Uber, Google, Salesforce, and other companies leaving due to negroes crime and trannies the political climate.

There is serious talk about turning empty offices into housing, but nobody wants to live in that hellscape. Workers who aren't coming into the office aren't going to go live in the Mission district. Maybe Florida and Texas could send their illegals to SF instead,

tl;dr there is a glut of "large" office space. The HNIC got some resolution passed to go after any company with more than 50 million a year in revenue because all the locals are super angry about tech bros ruining the city or something - the only way they ruined the city was by voting in the past 20 years of commie niggers. Anyway, Pandemic made a lot of people who lived in the city leave for less expensive areas so there was no need to keep a presence in the city proper anymore, and thus no need deal with nogs & tramps taking over the sidewalks and they moved beyond city limits leaving big vanity complexes empty.

There is a lack of places for "small" (aka money burning venture startups) offices. Sort of like the anchor spaces in a mall, there aren't a ton of organizations who have the need for large swaths of highrises, and parceling them out is effort, and the management companies are either hoping a big tenant returns or they'll get bought out by a housing developer. They are paying property taxes at rates nearly frozen from the 70s so zero fucks are given if these places sit empty for a decade as long as there's enough paypigs to keep the HVAC running.

A mall, where you turn the 'stores' into offices and set up additional shit like free-standing conference rooms in the pathways, is a natural transition. As is one turned into a school, but inside a former mall there aren't enough places for junkies to shoot up so that wouldn't fly in SF.