BroadwaySFGuy nailed it, the issue is not homelessness per se, but rather the mental and chemical issues the folks on the street have to deal with. Putting these folks in apartments or single-room occupancy hotels would not solve the problem. Get them treatment and then maybe they can find gainful employment, permanent housing, etc.
Jorge, the two big theaters are in the Tenderloin, which as you might assume from the name, is the seedier, lower-income part of San Francisco. I've lived here 30 years, and in the past I had no problem walking through the 'Loin at night after a show. There were unique characters, but I didn't use to see the level of violence, craziness, and bad behavior I see today. When Rob McClure toured through with Something Rotten, he wrote a lengthy expose on his Facebook page. One thing that was noted was how the big touring housing in many cities are generally in less safe parts of town. Like many cities, at one time -- when the theaters were built and there were lots more of them -- the Tenderloin was a nicer place.
The area is changing, as tech companies are moving in and the Tenderloin is gentrifying. I belive in 5-10 years it will look and feel very different, and if I had the money I'd be buying property there, knowing it will soon be a happenin' hood. (Think Hell's Kitchen in the 1970s compared to today.)