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The latest news and announcements from Mayor Farrell

Mayor Lee’s Statement on Developing San Francisco’s Hunters Point Shipyard & Treasure Island Projects

Mayor Edwin M. Lee today issued the following statement on the Lennar and China Development Bank partnership and potential $1.7 billion loan for major infrastructure projects at Hunters Point Shipyard and Treasure Island:

“The Hunters Point Shipyard and Treasure Island projects are transformative for San Francisco, and we’ve been working on a number of fronts to attract investments to our world-class City to make these plans a reality. This unprecedented investment is another example of the confidence that global investors have in San Francisco.

On Friday, we received confirmation from the State that the former Redevelopment project at Hunters Point is a fully enforceable obligation and can move forward with financing and construction. This is an important validation, and I remain hopeful the parties will continue to agree on the terms for the loan and jumpstart construction at the Hunters Point Shipyard and Treasure Island projects. These projects will invigorate our local economy by providing critically needed jobs and housing for our residents.”