The Alexandria Theatre, which was once a popular cinema in the Richmond District and has sat vacant and occasionally blighted for over decade, has been sold to new owners who plan to redevelop the property.
According to the RichmondSF blog, a group represented by Jaidin Consulting has purchased the property for an undisclosed sum. The Assessor's Office estimates the land's value at nearly $6 million and the building's value at $808,211.
RichmondSF blog reports the proposed development would revitalize the movie theater and add retail spaces in the building. A housing development with retail spaces on its ground floor would replace the theater's adjoining parking lot.
The 37,243-square-foot property has not been in use since 2004, when the theater closed, and has been a frequent target of graffiti, vandalism, and dumping. Complaints filed with the San Francisco Department of Building Inspections over the past 10 years mention crumbling plaster, dripping water, and other hazards.
The Alexandria Theatre opened in 1923 and underwent remodeling in 1941 and 1976.