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Economic Framework and Financing Plan for Jobs, Parks and Housing Initiative Released The Mayor’s Office of Economic and Workforce Development and initiative sponsor Lennar have released their economic framework and financing plan for the Hunters Point and Candlestick Shipyard Project, Phase 2. While our economy is in crisis and development projects across the region are being canceled or curtailed, this Economic Framework and Financing Plan represents a strong commitment and the next step in the rebuilding of the long-abandoned Hunters Point Shipyard. It outlines the economic investments required to implement the conceptual framework for the project approved by the San Francisco Board of Supervisors and Proposition G, approved by San Francisco voters in June 2008. read more>>
$2 billion plan for Candlestick, Hunters Point Details will be released Thursday for the planned $2 billion 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. The financial plan, hashed out between city officials and Miami developer Lennar Corp., is one of the first steps toward completing the huge development proposal approved by city voters in June. read more>>
Our Voices Were Heard! Prop G Passes! San Francisco voters have overwhelmingly approved a new and far more promising future for the residents of Bayview Hunters Point. While votes are still being counted, Proposition G passed with over 60% of the vote, and Proposition F was defeated by an equal margin. The Yes on G victory means that we can at last begin creating thousands of affordable homes, hundreds of acres of parks, 8,000 good paying jobs, an $17 million job training program, and a potential site for a new 49ers stadium. Proposition G authorizes the land use provisions needed to create an integrated mixed-use development on 770 acres in the southeastern tip of San Francisco that is currently home to an abandoned Navy shipyard and Candlestick Point. It also rescinds the city’s obligation to provide $100 million in bond funding for a new football stadium. The measure allows for the construction of up to 10,000 homes at the two sites plus space for retail, offices and more than 300 acres of park and open space. Thirty-two percent of the housing will be affordable—believed to be the highest commitment of its kind in the city’s history. Lennar Urban will donate $27.3 million to residents of the adjacent Bayview-Hunters Point to assist in housing purchases, either in the new development or the existing neighborhood. Thank you to all the voters and community support! We can now begin the work necessary to clean-up and re-vitalize Bayview-Hunters Point for everyone.
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