Investor Neil Mehta Answers the Panic Button

The Clay Theatre, a Pacific Heights landmark constructed shortly after the 1908 earthquake, has stood empty for four years on a busy stretch of Fillmore Street, the exterior poster frames as vacant as the adjacent ticket booth. Given the venue’s storied past and the area’s tony reputation as a place filled with Gettys and Haases, the neighborhood has long expected someone would show up to salvage the Clay.

That someone finally showed up last month in the form of a …

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