Lennar Selected for 49ers Stadium Study

After years of discussion followed by inactivity, the San Francisco 49ers have selected Lennar Corp. to lead a venture that will study a potential mixed-use real estate development project anchored by a new state-of-the-art NFL stadium at Candlestick Point.

In an effort to identify the best development opportunities, Lennar will be examining all options, including housing, retail, entertainment, commercial, residential, office developments and recreational space. The study will identify benefits to enhance the quality of life for surrounding neighborhoods, including the creation of jobs, housing and improving access and use of the Bay and the Candlestick Point State Recreational Area.

The 49ers selected Lennar to conduct the study based on the company's extensive experience in complex mixed-use development projects and previous experience working in San Francisco. Lennar Corp. was founded in 1954 and is one of the nation's leading homebuilders and urban developers. The company is very active in the San Francisco Bay Area, with major redevelopment projects ongoing at the Hunters Point Naval Shipyard, Treasure Island, and Mare Island.

"We have been working closely with the city of San Francisco and state government officials and are pleased that we have been able to take this next step forward in the process," said Lisa Lang, vice president of communications for the San Francisco 49ers. "We remain committed to building a new world-class stadium for our fans and we are excited to work with Lennar to evaluate a mixed-use development plan that works well for the team and the community."

"We are honored to work with the San Francisco 49ers on a project of this importance to San Francisco," said Emile Haddad, president of the western U.S. region of Lennar. "We believe our experience in the community and our development expertise creating vibrant urban neighborhoods will be strong assets as we develop this study."