May 17, 2016 Comments Off on Is Megaproject Exempt from SF’s Prop M? Views: 452 Bay Area, California News, West

Is Megaproject Exempt from SF’s Prop M?

A ballot measure has been filed to remove Lennar Urban’s Hunters Point and Candlestick Point projects from restrictions imposed by Prop. M, a 1986 San Francisco law that limits the amount of annual office space development. Supporters say it jeopardizes the success of a project seeking approval for more than 5 million square feet of R&D and office space.

Petition sponsors argue that the site should not be subjected to the same limits, since it is located miles from downtown, where Prop M was intended to limit growth. The remaining office allocation is roughly 500,000 square feet.

The $8-billion San Francisco Shipyard and Candlestick Point community is a 775-acre mixed-use development. The projects include 11,000 residential units, 500,000 square feet of urban retail, a hotel and office space, and more than 300 acres of protected open space.

Read More at San Francisco Business Times

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