Press Release
Mayor Gavin Newsom Hails Approval of Hunters Points Shipyard – Candlestick Point Redevelopment Project
7/27/10 - Mayor Gavin Newsom today issued the following statement following the Board of Supervisors’ approval of the Hunters Point Shipyard Phase II – Candlestick Point Redevelopment project:
“This is a proud and historic day for all San Francisco and for all who have worked for years to achieve this milestone,” said Mayor Newsom. “After more than a decade of exhaustive planning, extensive cleanup and hundreds of public hearings, together we have secured a critical engine for our City’s economic future and embraced a new vision of jobs, housing and hope for the Bayview-Hunters Point community. Now we can truly begin the work of transforming an environmental blight into a new center of thousands of permanent and construction jobs, green technology investment, affordable housing and parks for our City. I want to recognize Supervisor Sophie Maxwell, Southeast community leaders and Michael Cohen and the staff of the Mayor’s Office of Economic and Workforce Development for their incredible efforts and tireless commitment that brought us to this achievement.”
Earlier this month, the City Controller released an economic impact report on the proposed redevelopment of the redevelopment project. Among the many benefits, the report found that at buildout, the project is expected to increase the City’s property tax base by approximately $11 billion, contribute $6.4 to $6.6 billion annually to San Francisco’s Gross City Product, and create up to 12,000 new direct jobs and 13,000 new indirect or “induced” jobs. In addition, more than 1,000 construction jobs per year will be created over the full buildout of the project.
The Hunters Point Shipyard redevelopment comprises 700 acres of waterfront land along San Francisco’s southeastern shores. The development project is designed to provide 10,500 residential units—32% of which will be offered at below-market rates—more than 300 acres of parks and open space, including a new “Crissy Field” of the Southeast, approximately 700,000 square feet of destination retail and entertainment space and over 2.5 million square feet of commercial space oriented around a “green” science and technology campus. The project can also accommodate an optional site for a world-class football stadium for the San Francisco 49ers.