We have news this week about the historic Clay Theatre on upper Fillmore, which went dark in early 2020 and has been closed ever since.

There were fears in the last few years that the 112-year-old Clay Theatre in Pac Heights would be substantially or completely demolished, as part of one wealthy man's vision for upscaling the already upscale stretch of Fillmore north of Pine Street. After Landmark Theatres — which previously operated multiple cinemas in San Francisco and now only has one remaining at Opera Plaza — ended their run managing the Clay, the venue's future looked uncertain.

The theater had, in recent years, been known for midnight screenings of the Rocky Horror Picture Show and The Room, and its final screening before closing in January 2020 was a showing Rocky Horror.

Then, in early 2024, we learned that the Clay had been purchased along with multiple properties along Fillmore Street between Pine and Clay streets by a mystery buyer who we soon learned was billionaire venture capitalist Neil Mehta.

Mehta has only made a few public statements about his intentions for those two blocks of Fillmore, but he did say last spring that he intended to revive the Clay as "a high-end theater and hospitality concept."

The New Fillmore reported this week that those plans are taking shape, and an operator for the Clay Theatre has been selected. Ted Gerike, the founder of Los Angeles cinema-bookstore Now Instant and currently the director of digital content for downtown New York indie cinema Metrograph, will be leading the programming at the Clay. And Metrograph may be the model for the "high-end" concept that Mehta had been envisioning, with its membership program, focus on art-house and historic Hollywood cinema, and in-house restaurant.

Gerike issued a statement saying, "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."

"Ted Gerike is exactly the type of operator we are eager to see thrive on Fillmore Street,” says Cody Allen, director of the Mehta-backed Upper Fillmore Revitalization Project, adding that Gerike's plans are "emblematic of our broader vision" for the corridor.

Plans reportedly include 500 film screenings annually, projection capability for both 4K digital and 35mm analog films, and a refurbished theater with around 200 seats. Preservation architects Page & Turnbull have been retained to work on the renovation.

The programming at the Clay will reportedly include "first-run premieres, repertory classics, filmmaker talks, and cinema-focused events."

Allen has said that the broader project seeks to "support unique and experiential small business entrepreneurs who will bring something new and special to the neighborhood we live in and love." And the group has a number of retail properties to work with, after Mehta has invested millions already in acquiring properties.

But Mehta's intentions have not always been very clear, there was some local uproar last year over what appeared to be moves to evict several legacy businesses, including the 45-year-old Mediterranean restaurant La Mediterranee. (La Med, as it's known, recently got a four-year lease extension.)

Mehta spoke on an investment podcast back in April, admitting that this is all something of a vanity project — adding that it is "a terrible financial investment."

Mehta suggested he was seizing control of this microcosm of San Francisco, as "a lot of things are going in the wrong direction" in the city, saying "this was one part of my little corner of the world, [and I am] starting to invest and make it better."

Most would agree that Upper Fillmore, with its high-end boutiques and generally decent food offerings, isn't a corner of San Francisco that's screaming for revitalization. But Mehta seems to think it is, and he says his project "came from a place of wanting to make that street beautiful. And if we can make that one street beautiful, then you could maybe do that across other parts of the city, and you could make the city livable for families and have people still there."

In any event, having a cool new art-house cinema in the neighborhood, following a decade that saw the closure of a number of theaters around SF — including the beloved Landmark Embarcadero at Embarcadero Center — is welcome news for movie buffs.

There's currently no timeline for when construction on the Clay may be complete, and this still seems to be in the early stages.

Previously: Billionaire Who Bought Up Part of Fillmore Street Promises New Theater and All-Day Diner