Lennar Urban Wins Approval for Phase One of $3B Candlestick Point Development in San Francisco

by Katie Sloan

San Francisco — Lennar Urban has won approval for its updated development plans for Candlestick Point, a massive mixed-use development planned for the site of Candlestick Park, former home of the San Francisco 49ers football team.

San Francisco’s Commission on Community Investment and Infrastructure and the San Francisco Planning Commission unanimously approved the amended plans for the first phase of the development. Phase One is expect to cost $2 to $3 billion, according to the San Francisco Business Times.

The first phase of Candlestick Point includes:

  1. 16 city blocks anchored by an outdoor urban outlet retail district.
  2. 2,214 housing units, including the transformation and redevelopment of the 256-unit Alice Griffith public housing complex into a mixed-income housing development. The multifamily complex will be completely reconstructed without dislocating current residents.
  3. More than 1 million square feet of commercial space including a hotel, offices, a regional outlet shopping center and neighborhood retail, which will feature locally owned shops, a grocery store, restaurants and entertainment.
  4. A film and arts center.
  5. Sites for community services, including a new community garden for residents of Alice Griffith.
  6. Nine acres of parks and open space.
  7. Payments to the state for improvements, operations and maintenance at Candlestick Point State Recreation Area.

See more at: http://rebusinessonline.com/lennar-urban-wins-approval-for-phase-one-of-3b-candlestick-point-development-in-san-francisco/

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