5400 Geary Bl

The vacant Alexandria Theater at 5400 Geary Bl has resisted redevelopment since closing in 2004. The Chronicle reported that an earlier concept approved in 2013 combined a theater, restaurant, commercial space and housing. A later proposal featured offices, learning space and an indoor pool. Neither moved forward.

TimeSpace Group completed 43 residences on the former adjacent parking lot in 2018, according to the Chronicle, but left the theater undeveloped. TimeSpace Alexandria LLC and the city’s Office of Economic and Workforce Development signed a memorandum of understanding on March 7, 2024, to continue negotiating the property’s future.

On May 16, 2025, San Francisco enacted the Alexandria Theater Special Use District, allowing a density bonus and changes to zoning controls for housing at the site. The Chronicle reported that housing advocates split over the approach. Grow the Richmond supported adding homes, while critics questioned parcel-specific zoning and the cost of historic preservation. The publication also reported uncertainty around financing and construction in a difficult building market.

Preliminary plans reported on November 28, 2025, called for removing most of the deteriorating theater while preserving or reconstructing its marquee, blade sign, chandelier, Art Deco murals and bas-relief panels. SFYIMBY reported on March 16, 2026, that new building permits had been filed, though construction cost and timing remained undisclosed.

The August 2026 dossier now describes an 8-story, 83-unit project using the AB 2011 ministerial pathway. The mix includes 14 one-bedroom, 51 two-bedroom and 18 three-bedroom homes, with 10 affordable units. The permit remains in review with planner Manushi Mathur. A feasibility scenario for 74 units estimates a 5.1 yield on cost against a 6.5 requirement, a gap of 141 basis points below the target. The Outer Richmond pipeline contains 21 projects totaling 812 units.