realestate

Reviving Fillmore Street: A $100 Million Vision for San Francisco's Iconic Corridor

Neil Mehta sets record straight on his property investments and addresses misconceptions surrounding his business.

I
've been mischaracterized as a mysterious evil investor buying up properties on Fillmore Street, but that's far from the truth. My goal is to contribute to making my hometown - the city I love - cleaner, safer, and more vibrant. Born just a block away from Fillmore Street, I have fond memories of riding my bike along its lively streets as a child. Now, with my wife and three daughters living in the neighborhood, I've seen firsthand how the pandemic has taken a toll on our community.

    The city's struggles are real - disastrous policies, overregulation, and a brain drain of talented individuals like restaurateurs, artists, and small-business owners have left their mark. As I walk down Fillmore with my daughters, I'm disheartened by vacant buildings, boarded-up shops, and empty restaurants. This is a preventable tragedy that shouldn't be happening on one of San Francisco's most historic and vibrant streets.

    My actual plan involves a revitalization fund led by my neighbor Cody Allen, which has purchased properties along Fillmore Street with $100 million in funding from me. I've donated my entire interest to a nonprofit, ensuring I won't profit from these investments. The goal is to restore and revitalize the properties, attracting local businesses that will enhance the community's diversity and character.

    We're offering below-market leases to committed entrepreneurs who will breathe new life into Fillmore Street. We'll also provide support to navigate the complexities of running a business in San Francisco. Contrary to reports, we haven't evicted anyone or forced anyone out. Our plan is the opposite of what I've been accused of.

    The real reason for this misinformation is ideological extremism in City Hall, where officials demonize those trying to improve the city. Board of Supervisors President Aaron Peskin recently held a rally on Fillmore Street, announcing legislation to implement citywide zoning controls - despite having no facts straight about our project. If he had spoken with me, he would have learned that I'm not trying to take over the neighborhood, but rather make it better for everyone who lives here.

    Cody and I are encouraged by the support we've received so far. For those interested in learning more or joining our efforts, please reach out to [email protected]. I hope you'll look beyond agitators who ignore facts to stoke outrage, and instead take a walk down Fillmore Street to see its tremendous potential for good.

San Francisco's iconic Fillmore Street revitalization project with $100 million investment underway.