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Analysis of commercial leasing practices and vacancy rates

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5 min

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      Council Member Amanda Farias inquires about SBS's analysis of the relationship between commercial leasing practices and high vacancy rates. Commissioner Dynishal Gross explains the agency's efforts to understand and track small business vacancies citywide.

      • SBS has increased efforts to comprehensively understand small business vacancy rates citywide
      • The agency shares vacancy data with other city agencies and works with the Department of City Planning
      • Feedback on commercial lease challenges often comes from elected officials aware of impacts on specific corridors
      • Challenges vary and can include affordability issues, rent arrears, and changes in property ownership
      • SBS works closely with merchant associations, BIDs, and other community organizations to address these issues