Developer To Release Plans For Proposed $2B S.F. Complex For 49ers
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S.F. City Officials Hope Proposed Development
Will Keep 49ers From Moving To Santa Clara |
S.F. city officials and Miami-based developer Lennar Corp. today will release details for the planned $2B remake of the Hunters Point Naval Shipyard and nearby Candlestick Point into a "neighborhood and business district -- and possibly the construction of a new 49ers stadium," according to Selna & Temple of the S.F. CHRONICLE. The proposed plan "covers the costs of infrastructure, utilities, parks, transportation and land preparation, and it includes generous incentives to keep the 49ers" in S.F. Under the proposal, if the 49ers "decide to stay in the city, they would lease the land for $1 a year and receive $100[M] from Lennar to help build a stadium at the shipyard." Some of the finance plan's details are "likely to change before it is presented to the Board of Supervisors and other city commissions for approval." It will be presented as "part of a binding development contract as early as fall 2009." City leaders and Lennar "have portrayed the project as a means of revitalizing the impoverished southeastern corner of [S.F.] and as the best chance for holding onto the 49ers." Aside from the $100M funding from the developers, the 49ers "would be responsible for the costs of building, operating and maintaining the stadium." Lennar said that "environmental work would begin on the site next year and construction could be completed by 2013." 49ers VP/Communications Lisa Lang yesterday said that the team "had not seen the financial report and that Santa Clara remains the team's first choice for a new home, even though a stadium deal there is not assured." If the 49ers decide against S.F., Lennar and the city "plan to expand the retail and commercial development component of the new development" (S.F. CHRONICLE, 10/23).
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