Entry: Lennar Lands Stadium Assignment Dec 20, 2005



The San Francisco 49ers have named Lennar Corp. to lead a venture that will study a potential mixed-use real estate development project anchored by a new NFL stadium at Candlestick Point. The football team says that it has asked Lennar to look into all options, including housing, retail, entertainment, commercial, residential, office developments and recreational space.

Considering the impact that stadiums have on surrounding neighborhoods, the team has asked Lennar to analyze the potential effects of development on those neighborhoods, including the creation of jobs, housing and improving access and use of the San Francisco Bay and the Candlestick Point State Recreational Area.

Among the factors that led the 49ers to choose Lennar, the team says, is that the developer's track record includes "extensive experience in complex mixed-use development projects and previous experience working in San Francisco." Lennar's major redevelopment projects in the San Francisco Bay area include work at the Hunters Point Naval Shipyard, Treasure Island and Mare Island.

The proposed new stadium and other uses at the site would take the place of a Candlestick Park location that was built in for the San Francisco Giants Major League Baseball team and has been the home of the 49ers since 1971. The naming of Lennar to lead the study of a proposed new stadium and related uses is the latest development in longstanding efforts by the team and the city to provide a new stadium for the 49ers and to create other uses at the same time.

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