the 49ers remain in town

The new 68,000-seat stadium, which appears headed to Santa Clara, was to be the centerpiece of a redevelopment that is still slated to include a multi-sport arena, new market rate and affordable housing, retail and entertainment uses, public parks and open space, and improved access to the San Francisco Bay shoreline. The nagging question now is what might replace the stadium, but the presentation was made as if the stadium was still going to happen.

"The presentation was an effort by Lennar as well as the city to publicly show the depth and scale and progressiveness of the plan," a source representing Lennar tells GlobeSt.com. "There was no info on what might replace the stadium because we all remain hopeful that the 49ers will change their mind and remain in San Francisco."The current plan calls for 6,500 new homes, a new 8,000 to 10,000 seat arena, approximately 400,000 sf of retail and entertainment uses, 150,000 sf of office space, a new 200-room hotel, and over 150 acres of parks and open space. As for the NFL stadium, the presentation trumpeted the "urban tailgating opportunities," otherwise known as eating and drinking in the various sports bars, restaurants and live music venues that are slated to be clustered along a retail street leading to the stadium plaza. For the traditional tailgaters--who cook and drink store-bought drinks and food in the acres of surface parking that typically surrounds stadiums--the plan includes fewer than 3,000 surface parking spaces, a fact that the San Francisco 49ers bemoaned when they announced the stadium would not be built at Candlestick Point.

The presentation, which Gavin Newsom requested the Board of Supervisors call despite the stadium problem, was the first public viewing of the mixed-use/stadium development that was created as part of the 49ers stadium project. Lennar Communities Bay Area Urban Division was selected by the 49ers and the city to create a new home for the NFL team as well as bring new housing and job opportunities to San Francisco. A major presentation was originally scheduled to occur on Nov. 11 but was cancelled after the San Francisco 49ers surprise announcement Nov. 8.

"We strongly believe that our proposed plan for Candlestick Point serves both the 49ers and the community of Bayview Hunters Point and we look forward to making refinements to the plan that inevitably occur as a result of the public review process," said Kofi Bonner, president of Lennar Communities Bay Area Urban Division, in a prepared statement. "Although the new 49ers stadium is a significant component of a new Candlestick Point neighborhood, it's important to note that even if the stadium is not built, the development stands on its own. With or without a new stadium, the creation of new homes, parks and transportation will benefit the existing neighborhood and future residents."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.