In seemingly another milestone for the Pagoda Palace theater, officials announced that the landmark site between North Beach and Old Chinatown will now become a Mexican taqueria.
Lam Kin Ming, who bought the Pagoda 10 years ago for just over $2 million, has sold it for $4.2 million to Joe Campos, who is expected to open a Taqueria La Corneta restaurant on Pagoda’s ground floor in North Beach’s competitive dining market.
The theater opened as Washington Square Theater in 1909. It changed to the Pagoda Palace, which played Chinese-language films from 1974 until its closure in December 1994.
In 1998, community opposition blocked a chain-pharmacy retailer from locating there. In 2001, financing for an off-Broadway show venue fell apart in the aftermath of the dot-com industry collapse.
For more than a year, the theater has been vacant and boarded up.
Lam, who is involved in the Hong Kong real estate and garment industries, drew up plans to convert the ground floor into commercial space with an 800-seat movie house on the second floor.
“His own hobby is for movies and arts,” said Sam Ng, his representative and asset manager. “We leased it for Chinese movies and also Cantonese opera. They’ve been doing it for quite a few years.”
Campos, who operates three establishments in San Francisco and Redwood City, is expected to open the taqueria in a year, which will operate daily with 35 to 40 employees and occupy 4,000 out of the theater’s total 10,000 square feet.
It was unclear what types of governmental approval might be required for the new establishment or who might occupy the remaining majority of the building’s space. Supervisor Aaron Peskin brought up the idea of a new or additional home for the North Beach Library.
“It’s a great neighborhood. There are a lot of choices of food in North Beach but it’s still very good for a fine Mexican restaurant,” Campos said. “It’s a great corner.”
North Beach representative Peskin was mindful of recent neighborhood-preservation battles.
“Obviously, we got that beautiful blade sign as some of the art deco features. Mr. Campos and his team are sensitive about preserving the [history of the city] on the property. And they have been firm about their desire to have the architecture preserved and enhanced,” Peskin said.