"This is another important step toward the creation of a vibrant retail and entertainment community,'' said Kofi Bonner, President of Lennar Urban, master developer of Candlestick Point and the adjacent San Francisco Shipyard. "The future of Candlestick Point is beginning to take shape.''
The San Francisco Shipyard and Candlestick Point community is the largest development in San Francisco since the 1906 earthquake. It is an $8 billion, 775-acre mixed-use development that is transforming a former military base and former football stadium into a thriving community of more than 25,000 residents in San Francisco's long-neglected southeast corner. The entire development envisions 12,000 homes, with nearly one in three affordable. It will include both regional and neighborhood retail, along with a hotel and office space. More than 350 acres will be open space and parks. As part of the plan, the Alice Griffith public housing development is being completely rebuilt with no dislocation of existing residents.
The public private partnership between Lennar Urban and OCII is bringing to life a new urban neighborhood reflecting the diverse character of the City and its residents, and featuring affordable and market rate housing opportunities, economic vitality, and neighborhood-serving amenities.
The first phase of development at the Shipyard and Candlestick Point is creating jobs for local workers and opportunities for local businesses as well as generating long-term tax dollars for the City and County of San Francisco.
The first phase of development at Candlestick Point includes:
- Sixteen city blocks anchored by an outdoor urban outlet retail district.
- 2,214 housing units, including the transformation and rebuild of the 256-unit Alice Griffith public housing complex into a mixed-income housing development, which is being completely reconstructed without dislocating residents.
- More than 1 million square feet of commercial space for a hotel, offices, the regional outlet shopping center and neighborhood retail – including locally owned shops, a grocery store, restaurants and entertainment.
- A wedge park that will greet visitors coming off of Highway 101 into Candlestick Point.
- A Film and Arts Center.
- Sites for community services, including a new community garden for residents of Alice Griffith.
- Nine acres of parks and open space.
- Payments to the state for improvements, operations and maintenance at Candlestick Point State Recreation Area.
- More than $14.4 million in community benefits that include funding for scholarships and education, health and wellness, workforce and construction assistance, and housing and credit support.
Infrastructure work currently is under way at Candlestick Point as new streets and utilities are being installed.
Construction of the regional outlet shopping district is expected to begin in 2017.
Renderings of Candlestick Point can be downloaded here: https://www.dropbox.com/sh/hmi2addk4759nmq/AAC7fltaDe-ioR62yUkMEfdYa?dl=0
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lennar-urban-wins-approval-for-updated-plans-for-candlestick-point-300240199.html
SOURCE Lennar Urban