Mayor Gavin Newsom’s proposal to retrofit Potrero Hill’s Mirant Power Plant appears to have run out of steam as Supervisors Sophie Maxwell and Aaron Peskin acting as members of the Land Use and Economic Development Committee have recommended moving forward without the retrofit.
Meanwhile, while the San Francisco Redevelopment Commission “approved a nonbinding, multibillion-dollar draft financing plan” for the Lennar led redevelopment of Hunters and Candlestick Point, according to Lennar chief local negotiator and Vice President Kofi Bonner, “further negotiations are needed in the coming months to increase the projected monthly [sic] internal rate of return…from 15.8 percent to 22.5 percent.”
Total potential housing at risk: 10,500 units. And a new 49ers stadium. There’s nothing like a little leverage (unless it’s working against you).
∙ JustQuotes: Potrero Hill Power Plant Plan Paused (For A Week) [SocketSite]
∙ Power plant retrofit option rejected [Examiner]
∙ JustQuotes: The Redevelopment Of Hunters/Candlestick Point [SocketSite]
∙ Lennar Corp. seeks higher return for San Francisco redevelopment project [Examiner]