San Francisco Mayor Daniel Lurie speaks during a press conference at San Francisco City Hall on Oct. 23, 2025.
Justin Sullivan | Getty Images
San Francisco’s Downtown Development Corporation (SFDDC), launched in April by Mayor Daniel Lurie, announced Tuesday that it has secured more than $60 million in early donor commitments from technology giants such as Google and OpenAI to revitalize the city’s core.
“I think people view this as a generational moment,” said Shola Olatoye, CEO of the SFDDC, in an interview. “San Francisco has captured the world’s imagination as a global hub of innovation and industry. Entrepreneurs, families and visitors recognize the work underway and want to see it continue.”
In October, Lurie reported that the nonprofit public‑benefit corporation had raised $50 million—up from $40 million at its inception. The mayor leveraged his fundraising experience from the anti‑poverty organization Tipping Point Community to build public‑private partnerships aimed at citywide revitalization.
Beyond Google and OpenAI, donors include Visa, Thoma Bravo, Ripple, Salesforce, Amazon, Emerson Collective, Sixth Street and Gap. The capital will fund Lurie’s “Heart of the City” program, which focuses on street safety, cleanliness, and small‑business support.
Olatoye explained that a portion of the funding will be used to fill vacant storefronts on key retail corridors such as Powell and Stockton streets.
“We will provide direct grants for business, marketing and legal support, and below‑market financing from lending partners to renovate the spaces,” she said. “That will drive consumer spending and generate economic activity for San Francisco.”
Additional resources are earmarked for a new Embarcadero Park modeled after New York’s Bryant Park. Lurie has cited former New York Mayor Michael Bloomberg’s urban‑revitalization strategies as inspiration, while also looking to Detroit’s redevelopment playbook.
Metrics indicate that San Francisco is rebounding from the pandemic slowdown. Crime rates have fallen 30 % since 2024, venture funding in AI is projected to exceed the 2021 record, and both residential and commercial real‑estate markets are heating up.
Upcoming events—including Super Bowl LX in February, the Pro Bowl Games, and the FIFA World Cup matches scheduled for the summer—are expected to draw millions of visitors and boost demand for hospitality, retail and transportation services.
“When downtown thrives, our residents, families and small‑business owners all benefit,” Lurie said. “By strengthening public safety, cutting red tape and leaning into our arts and culture, we are bringing people back to our streets.”
The mayor’s progress was highlighted in October when President Donald Trump postponed a planned National Guard deployment to downtown San Francisco, citing substantial gains in public safety.
San Francisco’s resurgence is closely tied to the AI boom. CBRE data projects 2025 venture‑capital allocations to outpace the 2021 peak, driven largely by AI investments in the Bay Area. Companies such as Nvidia and Salesforce have publicly endorsed the city’s strategic direction, reinforcing confidence among investors.
“We are laser‑focused on outcomes and using data to hold ourselves accountable,” Olatoye added.
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