The San Francisco Recreation and Park Department has rejected plans by the San Francisco Museum At The Palace (SFMAP) Consortium.
According to the Marina Community Association, the Recreation and Park Department says the cost of rehabbing the site starts at $20 million, and the SFMAP proposal was rejected because it was deemed to have insufficient “financial capacity.” The consortium had planned to finance capital improvements through equity and debt.
SFMAP’s plans included creating an educational museum that would highlight the city and the Bay Area’s history, a new great hall, a fine-dining restaurant, and retaining the Palace of Fine Arts Theater.
