New Mission Theater renovation OKd S.F. PLANNING

Pedestrians walk across the street from the New Mission Theater on Mission Street in San Francisco, Calif., on Tuesday, January 8, 2013. Plans are in the works to remodel the historic New Mission Theater into a five-plex Alamo Alehouse Cinema. The project, which is before the planning commission, also calls for demolishing the aging, battered Giant Value store next door to the old theater and replacing it with market rate condos. less Pedestrians walk across the street from the New Mission Theater on Mission Street in San Francisco, Calif., on Tuesday, January 8, 2013. Plans are in the works to remodel the historic New Mission Theater into a ... more Photo: Carlos Avila Gonzalez, The Chronicle Photo: Carlos Avila Gonzalez, The Chronicle Image 1 of / 1 Caption Close New Mission Theater renovation OKd 1 / 1 Back to Gallery

The historic New Mission Theater, shuttered since 1993, will be back in the movie business again, thanks to a vote by the City Planning Commission Thursday.

The 5-to-1 vote, with Commissioner Michael Antonini dissenting, not only gives final approval to the $10 million renovation of the 1916 theater at 2554 Mission St., but also for construction of a 114-unit condominium development next door.

Antonini objected to the commission's decision to reduce off-street parking for the condominiums from the requested 89 spaces to 77, citing the wide range of public transit available on and under Mission Street.

"This is a wonderful project for a lot of reasons," Antonini said, but argued that more parking would help the project's builders, Oyster Development, sell the one- and two-bedroom market-rate units.

However, other commissioners said the limited parking fits with the city's "transit-first" policy.

While the Planning Department received 44 letters in support of the two projects and only a single phone call in opposition, speakers Thursday argued that the condos and the theater could increase gentrification of the Mission District and boost rents for businesses and residents.

Others complained that the developer's decision to give the city rights to property at 1296 Shotwell St. to build 46 units of affordable housing was both unfair to the surrounding neighborhood and a giveaway to the builder.

The arrangement works out well for the community, said city planner Richard Sucré, since only 14 units of affordable housing would have been provided if the developer included them in the Mission Street project.

Alamo Drafthouse Cinema will own and operate the remodeled New Mission, which will have a 348-seat theater and four smaller screening rooms. It will also include a full restaurant and bar.

Work on both developments could begin by summer.