$500,000 Pilot Bets Arts Tenants Can Revive Mid-Market Storefronts as Submarket Vacancy Sits at 32%

A $500,000 seed fund from the San Francisco Downtown Development Corporation, Ripple co-founder Chris Larsen and Proper Hotel Group will bankroll a 12-month pilot on the 900 block of Market Street that subsidizes arts tenants in vacant storefronts and adds theatrical lighting and public art, the first step toward a Market Street Arts & Theater District aimed at a Mid-Market office submarket where roughly a third of the space sits empty.