San Francisco Business Times
Oyster Development Corp. has agreed to buy a site in the heart of San Francisco’s Mission district and will revive a stalled — and contentious — plan to build housing and an entertainment center there.
Oyster President Dean Givas said his firm, along with equity partner Tricon Capital Group, is acquiring the Giant Value store at 2558 Mission St. near 21st Street, a site where Mission District impresario Gus Murad had planned to build 95 housing units and 14,000 square feet of retail.
Murad, who owns Medjool restaurant on Mission Street, will retain ownership of the adjacent, shuttered New Mission Theater. Murad will go forward with plans to redevelop the theater into an entertainment complex with movies, music and dining, according to a spokesman. The combined site is 45,000 square feet.