SAN FRANCISCO—Lennar Corp., one of the nation's leading homebuilders, and Macerich, one of the country's top operators and developers of high-performing retail properties, have unveiled a joint venture partnership to develop a 500,000 square-foot urban outlet project that will help anchor the new residential community at Candlestick Point.
Lennar and Macerich are 50/50 partners on the urban outlet portion of the mixed-use development. Today's announcement continues Lennar's commitment to the community and the ongoing transformation of Candlestick Point and The San Francisco Shipyard.
The Candlestick project is expected to create more than 3,000 permanent jobs and deliver more than 6,000 homes.

“We are pleased to partner with Lennar to develop this urban outlet project at Candlestick Point in San Francisco, a prime location in one of the strongest regional economies,'' said Randy Brant, executive vice president, real estate, Macerich. “We fully expect that the Candlestick Point project will be a magnet for economic activity and community-building.''

In all, the Candlestick Point development will be one of the largest urban mixed-use projects in the United States. In addition to the urban outlet component, it will feature a diversity of commercial offerings, including neighborhood retailers, a restaurant village, an African diaspora-themed marketplace, movie theaters, a performance venue and hotel. It also will include rental and for-sale homes, all anchored by a first-of-its-kind urban outlet shopping district that will feature major regional, national and international retailers.