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Neil Mehta , the VC behind the acquisition of a string of properties on San Francisco’s tony Fillmore Street , made waves earlier this week for reportedly throwing long-established local restaurants to the curb to bring in more high-end retailers.
Sources close to the 40-year-old VC paint a very different picture, however.
They say his focus is on bringing a wealth of restaurants and a 111-year old movie theater to the area.
He paid $9.7 million for a separate, 7,300-square-foot building, or $ 1,329 per square foot.
Mehta ’s moves may already be impacting the market.
The average home price in Pacific Heights rose to $2.25 million in July .
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