In late December, San Francisco 49ers football team co-owners Denise DeBartolo York and John York announced that they had selected Lennar to lead a study to identify development alternatives for a potential mixed-use master plan anchored by a new state-of-the-art NFL stadium.

Lennar's selection came after the company completed an intensive, months-long interview process with the team's ownership in consultation with the city, according to Lennar's president of the Western Region, Emile Haddad. “Extensive experience in complex mixed-use development projects and previous experience working in San Francisco” factored into the choice, according to 49ers spokesperson Lisa Lang.

The proposed new stadium and other uses at the city-owned 80-acre site would take the place of Candlestick Park, which was built for the San Francisco Giants Major League Baseball team in 1960, at a cost of $15 million. In 1971, it became a dual-purpose facility, also serving as the home of the 49ers until the Giants' last game there in September of 1999. Today, the 49ers remain as the sole tenant of the stadium, which has been renamed Monster Park.

According to Haddad, it will be several months before the vision for this project crystallizes, but all options will be examined, including housing, retail, entertainment, hotels, commercial, residential, office developments, and recreational space. Although it's too early to predict the number of dwellings that might be included, Haddad speculates that “this is going to be a sizable mixed-use community—quite possibly larger than the Platinum Triangle,” another stadium mixed-use redevelopment project, which is located in Anaheim and approved for more than 9,000 residential units.

The study will identify benefits to enhance the quality of life for surrounding neighborhoods, including the creation of jobs and housing and improving access to and use of the Bay and the Candlestick Point State Recreational Area.

Other Lennar major redevelopment projects in the San Francisco Bay area include work at the Hunters Point Naval Shipyard, Treasure Island, and Mare Island. In fact, the Hunters Point project runs adjacent to the Candlestick parcel currently under study, a fact Haddad sees as a clear advantage. “It gives us an opportunity to look at ways to integrate the project into this new redevelopment area—to actually incorporate what is there into the overall master plan.”

Stadium Stats in San Francisco

  • Tennant: Lennar Corp.
  • Stadium Property and Adjoining Area: 80 acres
  • Owner: City of San Francisco
  • Original Cost: $15 million
  • San Francisco County Stats

  • Median Age: 39.9
  • 2005 Median Estimated Household Income: $66,662
  • Homeownership Rate (2000 Census): 35%
  • 2004 Building Permits Issued (attached): 2,303
  • 2004 Building Permits Issued (single-family): 65
  • Snapshot of 3Q ‘05 Activity in San Francisco

  • Affordability Index (detached and attached): 9%
  • Attached Median Base Price: $716,054
  • Attached Median Price Per Square Foot: $736
  • Attached Sales: 250
  • Sales Rate (units per month): 15
  • Number of Attached Projects: 8
  • Months of Speculative Inventory: 0
  • LOVING LENNAR: (Left to right), NFL Commissioner Paul Tagliabue and wife Chandler; and San Francisco 49ers co-owners Denise and John York and their son Jed. The Yorks chose Lennar to lead Candlestick Park's redevelopment team. GIANT IDEAS: According to Emile Haddad, Lennar's president of the Western Region, plans, which aren't finalized, for the 80 acres of Candlestick Park include housing, retail, entertainment, hotels, commercial, residential, office developments, and recreational space.

    Learn more about markets featured in this article: San Francisco, CA.