In 1981, a substantial tract of land was sold to Safeway Corporation in San Francisco's Fillmore district for a mere $1.5 million, along with the transfer of public streets. Safeway was obligated to operate for a minimum of 40 years; however, shortly after this milestone, the chain announced its closure, prompting community outcry and criticism from city leaders. With potential future profits from the sale of the land, many view this as a disregard for local interests and a troubling pattern of financial exploitation.
Safeway was supposed to stay "for a minimum - minimum - of 40 years... It was not sold to Safeway for them to later make a profit off of it and resell the land, therefore robbing the community of a community resource."
It's a hugely valuable site... a smaller 2.3 acre shopping center that didn't involve a potential major housing development sold to H Mart last year for $37 million.
Residents protested, and city leaders urged the grocery store to stay, but Safeway stopped selling groceries early last month and closed its pharmacy last week.
Initially sold for just $1.5 million, Safeway's 3.7 acres could now be worth tens of millions, raising issues about community investment.
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