The Board of Trustees of San Francisco’s City College is contemplating whether to foreclose on the New Mission Theater and an adjacent property or extend current owner Gus Murad’s late-payment deadline by four months.

As the Bay Guardian reported on July 29, Murad has been late with his payments and the trustees were expected to hear his argument in favor of an extension at a hearing on the 29th. They have not yet made a decision.

Murad wants to build affordable housing on the site adjacent to the theater, formerly a Giant Value store.

Continue reading at the Bay Guardian.

Rigoberto Hernandez

Rigoberto Hernandez is a journalism student at San Francisco State University. He has interned at The Oregonian and The Orange County Register, but prefers to report on the Mission District. In his spare...

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4 Comments

  1. I don’t believe he would build affordable housing. That is just a story to make people go easy on him.

  2. Gus wants to build the tallest condo complex he can on this lot; Sure there will be a few affordable units, but that is not his motivation.

  3. I’d say if he can actually catch up and make the payments, they should extend it. Bringing more affordable housing to the market, would be a welcome change for this space. I think Mission Street could absorb the shock of a dollar store closing in hopes of something better rising in its place.

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