Miami-based Lennar, one of the nation's largest homebuilders, holds agreement to build out the Shipyard and Candlestick Point. The voter-approved plan would remake contiguous waterfront districts with 10,500 housing units, retail and commercial development, parks and possibly a new football stadium.

Lennar reportedly believes it won't turn a profit on the first 1,300 units planned for the Shipyard but is moving forward regardless because it believes it can make a profit on future phases—future phases it may not maintain the rights to develop if it does not clear certain development hurdles, such as getting this first phase up and running.

In April, Lennar showed reporters renderings and models of the initial project, which would cover two blocks on a hilltop within the former shipyard. Considered the gateway parcels to the Hilltop area of the Shipyard, their redevelopment was initially approved more than a decade ago. The parcels are bounded by Donahue Street to the northwest, Friedell Street to the southeast, with Innes Avenue running between them, and pocket parks abutting each of them. Completion of the pocket parks will be delayed by a couple of years as part of the revised schedule.