WeWork Announces City Partnership with San Francisco to Foster Economic Recovery

San Francisco, WeWork, SF x WeWork, JLL

San Francisco joins New York City, Washington, D.C., and Miami in partnering with WeWork for a hybrid return to work

SAN FRANCISCO–Today the City of San Francisco and WeWork announced a strategic partnership to help foster post-pandemic economic recovery in the city by supporting a hybrid return to work for businesses. The partnership with San Francisco is the fourth of its kind for WeWork, after launching similar partnerships with the city of New York, Washington, DC, and Miami focused on revitalizing city economies across the country.

As vaccination distribution continues to expand and businesses consider return to work strategies, employers and employees are increasingly looking for hybrid solutions. Through safety-focused, flexible workspace and data-driven analytics, the SF x WeWork partnership aims to provide resources to help businesses return to work. As part of the SF x WeWork partnership, members of San Francisco’s Chamber of Commerce will have access to certain incentives, including 1 month off of dedicated space when making a 6 month commitment, 2 months off of dedicated space when making a 12 month commitment, or a discounted WeWork All Access membership for up to 3 months.

The SF x WeWork partnership is the fourth of its kind for WeWork. The company announced its partnerships with New York City and Washington, DC in March, and with Miami in February. In each city, WeWork worked closely with city officials to determine what priorities were important to their city, and in turn developed a program focused on those priorities. For example, by partnering with the Chambers of Commerce in New York, WeWork focused on the critical role small businesses play in New York City’s revival.

As it comes to making sure the partnerships are successful, data has played a critical role. According to a recent report by JLL, never has the demand for transparency and high-quality data been greater as city governments and businesses seek to objectively report and track the impact of change. The report highlights that cities should turn to data such as space usage, mobility, health, and worker sentiment. Through these city partnerships, WeWork is providing such local insights into who, where, when and why businesses are returning to work–insights that JLL says “the real estate industry will have to keep collecting” in order to fully understand trends and changes in cities.

Since March, localized WeWork data shows a 30% increase in WeWork On Demand bookings in Washington, DC, a 41% increase in Miami, and 28% increase for WeWork All Access memberships in New York City. As the partnership begins in San Francisco, WeWork will provide similar data, tailored to the city’s priorities. On a national level, WeWork has seen a 33% increase in WeWork All Access memberships.

Sandeep Mathrani, CEO at WeWork says: “WeWork is thrilled to see the enthusiasm for our city partnerships among local business communities. A hybrid approach has proven instrumental in facilitating a return to the office for many companies, especially small businesses, to foster economic recovery.”

Miami Mayor Francis Suarez says: “WeWork has been a critical partner in revitalizing Miami’s economic recovery over the last several months. Miami is at the forefront of adaptation and flexibility, and our partnership with forward-thinking companies like WeWork allows us to remain nimble, and continue to see our city thrive in a post-pandemic world and beyond.”

Rodney Fong, President and CEO of the San Francisco Chamber of Commerce, says: “Bringing workers back into the office and frequenting our downtown corridor is an essential aspect of our city’s recovery. San Francisco’s workforce brings vibrancy to our streets, foot traffic to our merchant corridors, and support of local small businesses. As we enter recovery we are excited to explore new ways of convening people for work, and WeWork offers time and place for a new generation and style of work.”

West Coast Commercial Real Estate News