Tthe SF Appeal has word from local supervisor Eric Mar that an 8,000-square-foot restaurant or supper club-type thing is being planned for the space — a gentle proposal that would supposedly leave the murals and art deco on the 1923 building intact.
In fact — surprise! — the environmental impact report for the project is nearing completion.
In addition, the ownership of the theater space may be changing from Alexandria Enterprises to Landmark Enterprises, leaving the 46-unit project in the parking lot with Alexandria. No word on whether Landmark's just another LLC under the same people, or if it's an entirely different group, but it sounds like a legitimate comeback is on its way for the old theater.