“Macy’s has decided to close 150 stores nationwide over the next few years, and sell property, including closing 50 stores this year. While San Francisco’s Macy’s is not part of this first wave of 50 closures, I’ve been informed that Macy’s is looking to sell their Union Square property. The process to undergo the sale of their building to a new owner with their own vision for this site will take time, and Macy’s will stay open for the foreseeable future and people will remain employed at the store. Macy's has expressed to me their commitment to remaining a part of Union Square and our City while they undergo this transition.
The City will continue to work closely with Macy’s and any potential new owner to ensure this iconic location continues to serve San Francisco for decades to come. The City is committed to fostering the building’s best possible future, including through the use of potential tools such as zoning, air right contributions and transfer tax revenue. I’m also continuing to talk to leaders in retail, business, and real estate about how we can continue to focus on the long-term success of this site and others. There is tremendous opportunity at this site, and I know this City will continue to draw new investments and ideas. I appreciate Macy’s partnership and their commitment to working with us.
That being said, as someone who grew up in San Francisco, Macy’s has always meant a lot to the people of this city. It’s where families came to shop for the holidays. It’s where many people from my community got their first jobs, or even held jobs for decades. It’s hard to think of Macy’s not being part of our city anymore.
Change is happening in San Francisco, and that change can be positive if we channel it to the benefit of San Franciscans. This is why it’s so important we continue to make law changes at local and state levels, and that we reform our tax laws to recruit and retain businesses. It's why we are working to provide incentives for residential conversion. It’s why we keep recruiting new types of businesses, making it easier to open and operate small businesses, and working to bring more arts and entertainment to Downtown. It’s why we are pursuing big, transformative ideas like bringing new universities to our City. We will keep our focus on moving this City forward and creating opportunities for growth.”
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