Billionaire Plans to Revive Historic Clay Theatre in San Francisco

San Francisco, CA — The historic Clay Theatre on Fillmore Street, closed for years, has been purchased and is set for revival. Billionaire venture capitalist Neil Mehta acquired the 112-year-old cinema, part of a broader vision to upscale the upper Fillmore neighborhood.

With the theater’s management previously under Landmark Theatres, uncertainty loomed over its future after they ended their operations. Known for midnight screenings of “The Rocky Horror Picture Show” and “The Room,” the Clay last hosted a showing of the former in January 2020.

In early 2024, news broke that Mehta is planning to transform the Clay into a high-end cinema and hospitality venue. Ted Gerike, founder of Los Angeles’ Now Instant and director of digital content for an indie cinema in New York, will lead the theater’s programming.

Gerike stated, “I envision the Clay as both a home for local voices and a bridge connecting San Francisco to the wider world of cinema and ideas.” Cody Allen, director of the Mehta-backed Upper Fillmore Revitalization Project, expressed enthusiasm for Gerike’s involvement, emphasizing the broader vision for Fillmore Street.

Plans for the theater include 500 film screenings annually and upgraded projection capabilities for both 4K digital and 35mm films, with a seating capacity of around 200. Renovations will be managed by preservation architects Page & Turnbull.

The programming is expected to feature first-run premieres, repertory classics, filmmaker talks, and special events focused on cinema. Allen mentioned the project aims to foster unique small businesses that enhance the community.

While some locals have raised concerns about Mehta’s intentions, citing past controversies regarding existing businesses, he described the project as a “vanity project” and a “terrible financial investment.” Mehta aims to revitalize the area, believing in its potential for beauty and livability.

Though there is no timeline for completion, the revival of the Clay Theatre brings hope for movie enthusiasts, especially after the loss of several theaters in San Francisco in recent years.