SF tech investor snaps up Clay Theatre, plans grand renovation

Neil Mehta to reopen historic Lower Pacific Heights venue after five years

Clay Theater at 2261 Fillmore Streett and Neil Mehta (Getty, The Upper Fillmore Revitalization Project)
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Key Points

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This summary is reviewed by TRD Staff.

  • San Francisco's historic Clay Theatre, which closed in January 2020, is set to reopen after being purchased by tech investor Neil Mehta.
  • Mehta plans extensive renovations as part of a broader Upper Fillmore Revitalization Project, including upgrades for 4K digital projection, 35mm film capabilities, new acoustics and accessibility improvements.
  • While a renovation timeline hasn't been disclosed, the project is expected to take at least a year, with plans to be submitted to the city later this year.

San Francisco’s historic Clay Theatre is headed for reopening more than five years after its lights went dark in January 2020. 

Venture capitalist and Greenoaks Capital’s founder, Neil Mehta, who began buying up properties on Fillmore Street in 2024, plans to breathe new life into the 112-year-old theater, the San Francisco Chronicle reported. On June 10, his team announced plans to begin renovation later this year. 

The effort is part of what Mehta calls the Upper Fillmore Revitalization Project. He appointed Ted Gerike, former digital content lead for New York’s Metrograph theater, as the Clay’s director and chief creative officer. 

“I envision the Clay as both a home for local voices and a bridge connecting San Francisco to the wider world of cinema and ideas,” Gerike said in a statement, according to the Chronicle. The iconic Clay sign and marquee at 2261 Fillmore Street will remain in place. 

To bring the Lower Pacific Heights theater into the 21st century, the undertaking will include upgrades such as 4K digital projection, 35mm film capabilities, new acoustics, handicap accessibility and fire safety improvements. The 5,000-square-foot theater is expected to seat 200 and host more than 500 film screenings annually once completed. 

“Our approach to this storied theater is emblematic of our broader vision: We aim to support unique and experiential small business entrepreneurs who will bring something new and special to the neighborhood we live in and love,” Cody Allen, executive director for the Upper Fillmore Revitalization Project, said, per the Chronicle.

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A timeline for the renovation hasn’t been disclosed, though it likely will be at least a year before audiences will once again crowd into the Fillmore Street venue. The UFRP hopes to submit plans to the city later this year. 

“The theater’s current condition necessitates extensive rehabilitation work, and this will take time,” Allen said, according to the San Francisco Standard

Though Mehta’s so-called “hostile takeover” of the neighborhood last year was met with pushback from some local businesses, the Fillmore Merchants Association celebrated the news of the Clay’s rebirth. 

“The return of the Clay Theatre is more than the reopening of a beloved movie house — it’s the revival of a cultural cornerstone that has shaped the soul of Pacific Heights for generations. Since its closure in 2020, our community has deeply felt its absence,” the group said in a statement, according to the Chronicle. “Its return signals not just a nod to our past, but an investment in the vibrant, connected future of our neighborhood.”

Chris Malone Méndez

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