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Roland Li

Roland Li

Business Reporter & Editor at San Francisco Chronicle

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Email address
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Influence score
53
Phone
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Location
United States
Languages
  • English
Covering topics
  • Business
  • Real Estate

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Recent Articles

sfchronicle.com

One of S.F.’s biggest office buildings sees value plunge by 80% after departure of Uber, Block - ...

The value of 1455 Market St., a huge 1 million-square-foot office complex, has plunged around 80% after the departure of Uber and Block, formerly Square. Owner Hudson Pacific Properties bought the 45% stake that it didn’t already own from minority partner Canada Pension Plan Investment Board for $43.5 million, Hudson said in its earnings report this week. The pension board previously bought its stake in 2015 for $219 million, five times what Hudson paid this year for the Mid-Market property. Vic…
6 months ago
sfchronicle.com

Downtown S.F. street party draws thousands: ‘It’s bringing electric...

The first of San Francisco’s monthly Downtown First Thursdays block parties drew thousands to the city’s core as thumping bass, dancing crowds and food vendors enlivened the usually mellow area, with a giant disco ball hanging from a crane taking over Minna Street’s alleyway. Attendees browsed arts and crafts vendors on Second Street, painted a communal mural, and listened to sketch comedy. Lines for food stands hawking Peruvian dishes, oxtail and Nepalese momos stretched along the corridor. It’…
6 months ago
sfchronicle.com

One of S.F.’s biggest apartment complexes at risk of defaulting on ...

Parkmerced, one of San Francisco’s biggest apartment complexes, is at risk of defaulting on its nearly $1.8 billion mortgage. Owner Maximus Real Estate Partners has requested the transfer of the mortgage to special servicing, a move that can lead to foreclosure, according to a report by Morningstar, a financial services firm. S.F. Bay Area property map: Here’s who owns every building in the region The massive loan was originated in 2019, when Maximus sought to start construction on its long-plan…
6 months ago
sfchronicle.com

‘Totally depressing’: These S.F. areas saw an 80% drop in sales tax...

San Francisco’s sales tax revenue, a key measure of economic activity, fell across most of the city in 2023, a sign of an overall slowdown and continued pain in the downtown area. Revenue declined in 33 of 39 neighborhoods tracked by the city compared to 2022, adjusted for inflation, and only five neighborhoods are above 2019 levels. Citywide sales tax in 2023 fell 7.2% from the prior year and is down 28% from before the pandemic based on neighborhood data and adjusted for inflation. (Businesses…
7 months ago
sfchronicle.com

Why one of S.F.’s biggest housing projects could shrink by hundreds...

It’s been six years since the San Francisco Municipal Transportation Agency began working on an ambitious plan to build hundreds of affordable apartments alongside a replacement for its aging Potrero Yard bus facility. Construction on the new transit facility is slated to start early next year. But there are still significant funding hurdles for what is the biggest active project in the Mission — and more than 75% of the proposed housing is at risk of never being built. S.F. Bay Area property ma…
7 months ago
sfchronicle.com

‘Frustrated’: S.F. voters overwhelmingly feel city is on the wrong ...

San Francisco voters continue to fret about the state of the city, with just over half arguing that crime, drugs and homelessness are the biggest issues, according to a new poll. Nearly three quarters feel the city is on the wrong track, a gloomy sentiment that could endanger Mayor London Breed’s reelection bid. And downtown is at the heart of those worries. According to the San Francisco Chamber of Commerce’s annual CityBeat poll released Wednesday, 61% of the city’s residents said they felt s…
9 months ago
sfchronicle.com

San Francisco’s oldest toy store to close after 86 years - San Fran...

Jeffrey’s Toys, San Francisco’s oldest toy store, is permanently closing. Business has declined during the pandemic, and the store posted on Facebook this week that it would shutter “in a couple weeks.” Items are 30% off. S.F. downtown exodus: Map shows every major retail closure since 2023 The store was founded in 1938 by the Luhn family and had seven locations at its peak. The 45 Kearny St. shop is the last of them. It was the inspiration for Emeryville-based Pixar’s hit movie “Toy Story.” “A…
9 months ago
sfchronicle.com

Tech layoffs: S.F. gaming company cuts 1,800 employees - San Franci...

Unity Technologies is conducting its largest layoff round, affecting around 1,800 workers, or 25% of its staff. The San Francisco gaming company said in a regulatory filing on Monday that the move “restructures and refocuses on its core business, and to position itself for long-term and profitable growth.” Unity said it “cannot reasonably estimate the costs and charges in connection with this reduction.” Unity has cut jobs repeatedly in the past year, with 265 layoffs late last year and 284 layo…
10 months ago
sfchronicle.com

Real estate shakeup: Buyer found for nearly $1 billion in mortgages...

A buyer has been selected for the huge $940 million mortgage portfolio tied to 2,149 San Francisco apartments controlled by Veritas Investments, the city’s largest residential landlord, and its partners. Ballast Investments is poised to take over ownership of 75 apartment buildings and become one of the city’s biggest real estate players, according to a person with direct knowledge of the pending deal who wasn’t authorized to speak publicly. The sale has not closed and the price of the mortgages…
11 months ago
sfchronicle.com

‘Shocking to see’: Here’s what APEC attendees thought of SF - San F...

Vietnam resident Desmond Lin first visited San Francisco in 1988. “Before, it is the best city,” he said. “At that time, Union Square is like a dream come true with those fancy hotels, retail.” But Lin, who attended the Asia-Pacific Economic Cooperation summit this week, thinks the city has fallen to the worst state he’s ever seen, even compared with his visit last year. “This time, I think, is way worse,” he said. “Tourism is a key factor for one city’s momentum to grow. Here the momentum is, I…
11 months ago
sfchronicle.com

Bay Area tech company owned by TikTok parent ByteDance reportedly l...

Pico Interactive, a virtual reality company based in Mountain View, is reportedly laying off hundreds of employees. TikTok owner ByteDance bought the company in 2021 for a reported $775 million, according to Crunchbase. The restructuring is in response to falling demand for VR headsets, and Pico is folding much of its software team into Beijing-based ByteDance, Reuters reported. Pico didn’t immediately respond to requests for comment. The layoffs were announced during a meeting in China on Tuesd…
12 months ago
sfchronicle.com

Downtown S.F. woes aren’t as bad as previously thought, revised rep...

Downtown San Francisco’s pandemic recovery is nearly twice as strong as previously reported, according to a revised analysis of U.S. cities led by the University of Toronto. The city’s pandemic recovery rate was 67% from March to June compared to the same period in 2019, based on cell phone activity. That’s nearly double the 34% rate reported in the prior three months — at the time ranked as the weakest in North America. San Francisco’s recovery rate now ranks 38th out of 55 U.S. cities. The maj…
about 1 year ago
sfchronicle.com

S.F. officials find at least two bedrooms at Twitter HQ as investig...

A building inspector visited Twitter’s headquarters on Wednesday and found two bedrooms...
almost 2 years ago
sfchronicle.com

New York is roaring back from the worst of the pandemic. Why isn’t ...

There’s always been a disparity between New York and San Francisco, but the two coastal...
about 2 years ago
sfchronicle.com

Charles Schwab to give up SF headquarters in $26 billion TD Ameritr...

After nearly a half-century in San Francisco, Charles Schwab said Monday it would move its headquarters elsewhere. The shift came tucked into the unveiling of a blockbuster merger, the acquisition of rival stock brokerage TD Ameritrade in a deal worth $26 billion. The combined companies will be based in the Dallas-Fort Worth area, which is not either company’s home base but which houses large offices for both. It is the latest corporate titan to announce a move, as the cost of doing business in…
almost 5 years ago
sfchronicle.com

PG&E: Power line had problems before Camp Fire ignited - San Franci...

Pacific Gas and Electric Co. told state regulators Friday that a high-voltage power line near the origin point of the devastating Camp Fire experienced a problem just before the first flames appeared. The public utility, already facing billions in potential liability for earlier wildfires, is under scrutiny from regulators for possibly causing the latest fire, which broke out early Thursday. That same day, PG&E canceled plans to shut off power as a precaution against fires in parts of Butte Coun…
almost 6 years ago
sfchronicle.com

Staying alive: SF family-owned funeral home celebrates 100th annive...

Death and taxes may be inevitable, but the business of death is changing. Funeral homes that have been around for decades have been closing around San Francisco as sons and daughters of owners pursue other careers. Morticians are cashing out in the hot real estate market by selling their building sites for bigger housing developments. Duggan’s Funeral Service is an exception. The family-owned, Mission District company celebrates its 100th anniversary on Saturday. It’s one of the oldest small bus…
about 6 years ago
sfchronicle.com

157-year-old S.F. retailer Gump’s could close by end of year - San ...

Gump’s, a 157-year-old San Francisco retailer, is seeking court approval for a “store closing sale” that would end by Dec. 31, according to bankruptcy filings this week. A Gump’s spokesman said the company was still seeking a buyer to continue business operations, but its store at 135 Post St. near Union Square will close by the end of this year if a buyer isn’t found. Gump’s filed for bankruptcy protection on Sunday and hired Hilco Merchant Resources and Gordon Brothers to liquidate its merchan…
about 6 years ago