The San Francisco Planning Commission recently supported a proposal to exempt a 23-block stretch of Van Ness Avenue from the city's formula retail ban, originally established in 2007 to regulate large chain stores. With a staggering ground-floor vacancy rate over 50%, much higher than the city average of 7.7%, the commissioners see this decision as vital for revitalizing the economically struggling corridor. While the proposal gained unanimous support, it still requires further legislative approval to be fully enacted, indicating that the path to implementation is not guaranteed.
"Van Ness has an over 50% ground-floor vacancy rate, compared to a citywide retail vacancy rate of approximately 7.7%, highlighting urgent economic needs for this area."
"This proposal aims to lift the formula retail ban on about 23 blocks of Van Ness Avenue, which is considered crucial for the area's economic revival."
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