In San Francisco, where the average apartment rent is about $3,000 per month and millions of square feet of commercial space sit unused after the pandemic, James Stallworth saw an opportunity.
Through his startup, Brownstone Shared Housing, Stallworth leased a small former bank building at 12 Mint Plaza in 2023 and converted it into dormitory-like sleeping pods, which he leased out for just $700 per month. The work to remove the bank’s abandoned furniture and install the pods, each large enough to fit a twin mattress, was done without city permits.
Like any eager market disruptor, the bright-eyed entrepreneur figured it paid to ask for forgiveness rather than permission. He was right — sort of…