San Francisco State University is planning to “plant (its) flag at Hunters Point” and is seeking a lease for upwards of 60,000 square feet of space within Lennar Urban’s planned Innovation Center to rise at the former Shipyard, according to the San Francisco Business Times.

The approved redevelopment plan for Hunters Point and Candlestick includes over 3 million square feet of commercial space and 10,000 units of housing, the first 88 units of which are currently on the market.

Lennar has yet to announce a new source of funds to finance their billion dollar redevelopment of Hunters Point, beyond the 247 units of housing they currently have under construction.

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Comments from “Plugged-In” Readers

  1. Posted by Invented

    Went to the onsite welcome center few weeks ago– was informed they will not sell the condos to non-occupying owner. Rep wasn’t able to explain why. She confirmed with another rep there.

  2. Posted by SFrentier

    If you live in it for a year it should be kosher to then move out and rent it. I think it’s a good thing, to keep it owner occupied as this new development takes foot. Last thing they want to do is screw up the very beginnings of this major project!

    Oh, and yay for the new SFSU Shipyard campus. Sweet!

    • Posted by invented

      I want to invest in the development but I live in a large home in Alamo Square with my family — and can’t move there. so I’m ruled out. Seems like 100% owner occupancy is a high bar, but maybe it’s a stipulation in exchange for tax breaks. Not sure. Perhaps the other forthcoming developments will allow a small percentage of investors.

  3. Posted by gantried

    Shipyard buyers are required to owner occupy for 1 year only – then rent til your hearts content. They will allow a small % of investors now if you’re low key about it

  4. Posted by SFgal

    Yay for this! We are moving there….Glad things are happening to develop the neighborhood. We will live there and plan to rent it out at some point and good to know that there will be a market of renters from SFSU some time in the future.

  5. Posted by Alex740

    Great news, one more reason to invest in the south end of SF!

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