Hunters Point Shipyard – Candlestick Point Project Recognized as National Transformative Investment
Development Project Earns Top Recognition by Brookings Institution & Others
11/11—Mayor Edwin M. Lee today announced that the Hunters Point Shipyard – Candlestick Point redevelopment project has been selected as one of just three Transformative Investments in the United States by the Brookings Institution.
“All of San Francisco should be proud that the Hunters Point Shipyard – Candlestick Point project is being recognized as a national model for new development,” said Mayor Lee. “Many residents, particularly from the Bayview and Hunters Point neighborhoods, have worked long hours to provide input and guidance for the much-needed redevelopment of this area, and the City will move forward without delay to transform the blighted shipyard to bring new housing, parks and thousands of jobs to the Southeast community.”
The Brookings Institution, a leading nonprofit public policy organization based in Washington, D.C., and Lazard, one of the nation’s top financial advisory and asset-management firms, hosted a forum in October on Transformative Investments in the United States. Experts selected three projects currently underway as models for transformative physical, social and economic change toward a more productive, sustainable and inclusive economy, at either the metropolitan, regional or national scale.
“San Francisco’s Shipyard project is both physically and economically transformative for the Bay Area and globally significant,” said Brookings Vice President and Director of the Metropolitan Policy Program Bruce Katz. “The effort is exceptional in its scale and scope by seamlessly integrating a new clean tech innovation district and broader urban revitalization. It is the result of creative private and public sector leadership, and extraordinarily inclusive community engagement in the planning and development process. This project promises to set a new paradigm for successfully conceiving, financing, and delivering transformative infrastructure projects in the United States.”
Hunters Point Shipyard – Candlestick Point is the largest redevelopment effort in San Francisco since the 1906 earthquake. This $8 billion, 700-acre development project will transform a former military base into a thriving community of more than 25,000 residents in San Francisco’s southeast corner. In additional to homes, the sustainable and green project will include office, research and development, retail and arts and community spaces, which will create more than 12,000 permanent jobs. Some 350 acres will be parkland. The project continues to attract interest from investors. The City’s selected development partner, Lennar Urban, is continuing meetings with potential investors in China this month.
Recognition from Brookings is just the latest honor for the San Francisco project. Hunters Point Shipyard – Candlestick Point also received the prestigious Gold Nugget Grand Award at the Pacific Coast Builders Conference in San Francisco earlier this year and received the award for Best “On the Boards” Site plan, competing against national and international entries. The project also received the Hard Won Victory award from the American Planning Association’s California chapter, which is given for a planning initiative “undertaken by a community, neighborhood, citizens group or jurisdiction in the face of difficult or trying circumstances.”