Saturday, August 06, 2016

15-Member Co-Op Secures Funds to Purchase San Francisco's Historic Club, "The Stud"

SFist reports:
"Panic spread throughout the local LGBT community and a wave of eulogies began last month after McElhaney [current owner of The Stud] announced his plans to sell, as he faced a steep rent increase to $9,000, more than double what he'd been paying under two elderly, longtime property owners. The property recently changed hands, and with a monstrously large condo complex rising next door on what was for decades a surface parking lot used by Muni and Golden Gate Transit, it appeared The Stud's days were numbered." McElhaney says he's happy to be transferring ownership to the diverse and multi-talented co-op, saying, "If these awesome folks can't make it work, no one can." READ MORE