San Francisco unveiled some shiny new plan to win back the affections of the Niners yesterday. The plan includes a redevelopment of Candlestick Point and Hunters Point and features a new stadium for the Niners, lots of parks, lots of housing, office space and a new arena. Best part? Supposedly the plan means no money down for the city. So far, there is no truth to the rumors that the plan also includes lots of shiny, pretty ponies for everybody to have.
How this will all work without public financing is similar to how it works for Treasure Island and Mission Bay. The land will be handed over to the Lennar Corp. who will handle the redevelopment, they'll get money from people who want to build and own property there, and the Niners will help out with some financing of the new stadium.
The positives: it's free! Who doesn't love free things? And the development sounds kind of cool. They even want to put a trolley together to use to climb up the hills in Hunters Point. Gavin also says that they'll move ahead with all of this even if the Niners bail which means that long neglected part of the city will be revitalized.
The negatives: well, a toxic waste dump is not a sexy place to build anything and it's still not clear everything will be cleaned up in time or who will pay for it all. The Niners are also still saying Santa Clara is their #1 choice despite the fact they still can't find $200 million dollars anywhere to help them move forward and $200 million dollars doesn't just grow on trees (and if they did, let us know at editor @ sfist.com)
To move forward, Gavin says he wants to get the Board of Supes to weigh in on that. Good thinking on that one. Then there'll be another resolution to vote on.
In other words, there's a long way to go between now and then.