“The former Real Food building at 3939 24th Street, in the heart of Noe Valley, has been vacant since 2003 when the grocery was suddenly shuttered.
Two months ago it was reported that HGGC, the private equity group co-founded by former 49ers quarterback Steve Young which now controls the vacant building, was putting the property on the market with “plans to sell it to a housing developer.”
And the property is now officially for sale.
But according to the confidential offering memorandum for the property now making the rounds, while it is envisioned that “some prospective buyers may wish to develop a more substantial building on the site,” others may simply wish to “renovate and re-open the building.”
And with no set price, the property is expected to be sold to the highest bidder, regardless of their plans for the site which is zoned for development up to 40 feet in height.”
As we then revealed this past January:
“While the property hasn’t yet changed hands, a permit to pour a new concrete floor, versus start demolishing the building, has since been approved. And in addition, the paperwork to secure a Type 20 liquor license, which would allow for the retail sale of beer and wine, has been received by the City.”
And lo and behold, the formal application to simply divide the existing grocery store space into 3 smaller retail units has now been filed.
The establishments in the rendering are simply illustrative and the actual tenants have yet to be identified. And in terms of longer-term plans to completely redevelop the site, there are none in the works.