The Residency Leased Former University Buildings
The startup incubator program secured three sites in San Francisco previously caught in a major city legal dispute.
Updated on Oct. 10, 2026 in Internships
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Between 2024 and 2026, The Residency leased three former Academy of Art University properties to provide coworking and housing for startup founders. These sites include buildings at 1916 Octavia St., 2209 Van Ness Ave., and 1153 Bush St.
Why it matters
The program offers an alternative to traditional college paths, allowing startup entrepreneurs, researchers, and academics to dedicate their full attention to projects. By repurposing these facilities, the incubator manages its footprint across its four San Francisco locations.
The Residency charges a starting rate of $2,000 per month or 2% company equity for its three-month programs. Each of the four San Francisco locations hosts approximately 20 entrepreneurs per cohort.
The players
The Residency
This startup incubator provides housing and coworking spaces for entrepreneurs and researchers.
Academy of Art University
This educational institution was involved in a $58 million legal settlement with the city regarding property conversions.
The details
The Residency operates three cohorts annually, requiring tenants to participate in a demo day during their ninth week. The program aims to foster work-focused environments for founders who choose to skip traditional academic degree tracks.
Timeline
In 2016, San Francisco sued the Academy of Art University for illegal building conversions.
Between 2024 and 2026, the Academy of Art University leased buildings to The Residency.
In 2025, the Commodore Hotel was sold and rebranded as Superhero Hotel.
Market Landscape
This leasing strategy reflects a broader trend of repurposing former institutional real estate into specialized startup hubs in San Francisco. It follows the regulatory constraints imposed by the 2016 Academy of Art University settlement with San Francisco.
Local startup founders interested in the program must secure funding to meet the $2,000 monthly cost or prepare to offer 2% equity. The program changes how specific properties in San Francisco neighborhoods are utilized by the tech community.
The takeaway
Founders should evaluate whether the structured cohort environment outweighs the cost of monthly fees or equity stakes. Applicants can expect a rigorous nine-week path toward a final demo day presentation.
Further reading
For broader trends in local professional development, see the Internships section.
Source note: This article includes information reported by The San Francisco Standard.
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