There is a right way to grow our city and a wrong way to grow our city. Letting our successful and beloved family businesses fall prey to corporate speculators is the wrong way. I proudly stood with community members and small business owners last week to announce plans to protect our legacy businesses that are facing eviction, so that what is happening in Upper Fillmore does not spread to other neighborhoods targeted for redevelopment citywide. 

This week, I asked the Board to support expanding rent control to the roughly 40% of San Francisco renters who are unprotected from arbitrary rent increases - IF voters approve state Proposition 33 on the November ballot. Affordable rental housing is a real solution to San Francisco's complex and interrelated challenges, for renters who are students and teachers, artists and business owners, seniors and families.

Standing with the three generations of the Der Bedrossian family, proprietors of Café La Méditerranée on Fillmore Street, I announced new legislation that is designed to protect the block’s legacy neighborhood businesses from the threat of closure – take-over, really – by that of billionaire Venture Capitalist Neil Mehta. The proposed legislation, interim controls for the neighborhood, could serve as a city-wide model. 

Mehta spent tens of millions of dollars to purchase at least a dozen storefronts through separate LLCs on three city blocks in the upper Fillmore neighborhood commercial district in early 2024. The bulk of these purchases occurred after the parcels were identified as targets for Mayor Breed’s upzoning plan. Since then, several longstanding restaurants, , and shops have been forced into closure and two legacy businesses, ‘La Med’ and Ten Ichi, are fighting to remain in operation. Mehta’s Greenoaks Capital previously partnered with mayoral candidate Mark Farrell’s venture capital firm Thayer Ventures to invest in Sonder, an Airbnb-like corporate rental company.

“We are honored to be recognized as a legacy business who has served as a pillar of our community for forty-five years,” said Vanick Der Bedrossian, owner of Café La Méditerranée. “President Peskin’s proposal is a great step forward to safeguard the unique spirit and character of our neighborhoods. We love Fillmore Street, we love San Francisco, and we want to stay.”

Nick Ferris of Neighborhoods United SF added: “What is happening on Fillmore Street shows that Mayor Breed’s upzoning plan is already fueling real estate speculation and making small businesses vulnerable to displacement and demolition. We must ensure that a wave of displacement doesn’t destroy our neighborhoods.” 

 

Supervisor Peskin and homeless outreach partners
on a walk-through of the neighborhood.
 

Board of Supervisors | District 3 | Aaron Peskin