Longtime restaurants in San Franciscos Fillmore District say theyre being forced out
The future of some mom-and-pop businesses that have anchored a San Francisco neighborhood for nearly half a century hangs in the balance. KTVUs Betty Yu reports.
SAN FRANCISCO – A favorite Middle Eastern and Mediterranean restaurant in San Francisco’s Upper Fillmore neighborhood has signed a lease extension after it was reported this past summer that they and other small businesses in the area were asked to move by a new landlord.
On Monday, it was announced that La Méditerranée, at 2210 Fillmore Street, signed a new lease agreement to stay in place through the summer of 2028. As part of the negotiation with the Upper Fillmore Revitilization Project, diners, looking for their fix of Chicken Cilicia Fillo, hummus and other fine Mediterranean fare can do so on Sundays again. In addition, the restaurant will consider extending its hours over time with hopes that foot traffic along the corridor increases.
The Upper Fillmore Revitilization Project is solely funded by venture capitalist and “area native” Neil Mehta.
According to a news release, the group, run by Cody Allen, an “area resident” and restaurant entrepreneur, claims to be pro small business with a commitment to locally-owned establishments. The group seeks to reverse the decline of the “once vibrant neighborhood by purchasing and restoring properties and offering below-market leases” to help small businesses once again thrive in the Fillmore.
On their website, the group says it plans to rejuvenate the Clay Theater, which it purchased earlier this year. The Clay Theater was closed in 2020 by Landmark Theaters.
In August, we reported La Méditerranée had nine months left on its lease. Owner, Vanick Der Bedrossian, at the time, said the café opened by his father 45 years ago, was expected to vacate after the lease ended. The owner’s tune was more cheerful on Monday. He said he was thrilled about the lease extension and looked forward to working with Mehta and Allen.
“We are glad to continue serving our faithful customers and our community,” Der Bedrossian said. Guests can look forward to the reestablished Sunday dining service beginning in late January.
It remains to be seen if this totally quells fears that the new owners were strictly looking to install high-end retail in some of the Fillmore Street properties they purchased.
Mehta, founder of Greenoaks Capital, committed $100 million to the revitalization project. The news release says the entirety of his stake in the project was contributed to a nonprofit, meaning he does not own or have any financial interest, nor will he benefit from the properties.
The group said many prime spaces along the Fillmore corridor have been taken over in recent years by large chain retailers. A Starbucks that was purchased by the group on the same block declined a lease extension. Upper Fillmore Revitalization Project said they see this as an opportunity to lease the property to a small business operator and entrepreneur.
Copyright for syndicated content belongs to the linked Source link