Last week the city announced that a number of new commercial tenants had signed long-term leases on storefront space, including Whole Foods, Chase Bank, and Champa Garden Thai restaurant, a Michelin recommended restaurant based in Oakland.
The new tenants will help drop the business vacancy rate in the Oceanview-Merced-Ingleside neighborhood from 9.5 percent to 6.8 percent.
“By working hand in hand with the community, we are attracting new businesses and creating a more vibrant Ocean Avenue,” said Mayor Ed Lee. “As we move forward it is my goal to continue to secure resources to support commercial corridors and the small businesses that make up the backbone of our economy.”
It’s been a long time coming, as the neighborhood has been lacking a full-service grocery store and a full service bank since the mid 1990’s. Recruiting the new businesses is in part the result of several years of targeted economic development and investment by the City along Ocean Avenue.
“The community has been waiting for years for a grocery store and a full-service bank and we are especially thrilled to have these businesses fill long-term vacancies that have been eyesores for half a decade,” said Ocean Avenue Association Executive Director Catherine Hickey. “Ocean Avenue is undoubtedly experiencing a renaissance, and we are looking forward to the grand opening of all these businesses later this year.”
Whole Foods will be anchoring the new Avalon Bay Development at 1150 Ocean Avenue. The project is a 173 unit apartment complex on a 1.8 acre site. Whole Foods will be taking over 28,000 square feet, activating a space which was once an empty parking lot.
Champa Garden will open their first San Francisco location at 1700 Ocean Avenue. Their Oakland location currently attracts customers from throughout the Bay Area.
Chase Bank will be located at 1649 Ocean Avenue; CVS Pharmacy will be at 1770 Ocean Avenue; and Sherwin Williams will be at 1415 Ocean Avenue. The anticipated 2012 openings of these businesses will create 75-100 new jobs in the southern part of San Francisco.
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