Austin Klar breaks down why Prado Group abandoned its mixed-use plan for 2055 Chestnut Street in San Francisco. The original proposal had 49 apartments, retail, and a grocery store replacing a bank and parking lot. The new plan is retail-only, which Klar says suits the street's foot traffic but questions why the housing got cut.
Plans for an apartment complex in the marina have been scrapped in favor of an expanded retail presence. Prado Group has been working on plans for a new mixed-use community at 2055 Chestnut Street for years, and they actually received entitlements for 49 new apartment units plus new retail and a new grocery store that would replace an old bank and parking lot at the site. But that project has been scrapped and it's now proposed to just do an expanded retail offering at the site. Definitely the right location for more retail. I mean, Chestnut is prime retail real estate. It will definitely get foot traffic. But not really clear why they've scrapped a mixed-use community, which would be great there, for just more retail. But at least the space will be better utilized than what's there currently, which is the old bank and a parking lot. Let me know what you think in the comments and follow me for more San Francisco real estate.
