Despite Seemingly Down Economy Restaurants Flourish
San Francisco's Cow Hollow-Marina neighborhood, is undergoing a restaurant boom with six eateries slated to open in the next six months.
The recession took a toll on Union Street. In the last three months of 2009, Union Street's sales tax receipts were off 15% from their spring 2008 peak of $272,927, according to San Francisco's Office of the Controller. That compares with a 4% drop along nearby Chestnut Street, which unlike Union Street, has several large retail outlets like an Apple Inc. store, a Walgreen Co. drugstore, and two movie theaters. Union Street generates 0.8% of sales tax receipts citywide, compared with 1% for Chestnut Street.
Due to decreased rent and other factors, it seems that Union street could be a booming place for additional restaurants to help continue the revitalization process of this town.
