Mx3 Ventures paid $8.7M in 2013 hoping to turn a two-story auto body shop at 3140 16th St in the Mission into a five-story condominium project. Those plans have been abandoned, and Mx3 now hopes to rehabilitate the property and use it for four apartments with ground-floor retail.
The condo proposal would have included 28 units and hosted more than 7k SF in retail, reports SocketSite. The new proposal is significantly scaled back in area and height.
It is not clear what drove the downgrade, but the Mission District has new limits that will curb development there. [SS]
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