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Wednesday, May 21, 2008

Proposition G, Take Two: Desperation Row for Lennar and Co.?

21May08_Lennar.jpgNews broke last Friday that several community organizations have gone to the mattresses with über-developer Lennar Corp., walking away with a legally-binding agreement that puts Proposition G on the hook for a total of 35 percent affordable housing, a ten percent increase from its initial plan. Advocates of the Daly-backed proposition F aren't yet convinced— 50 percent or die!— but even staunch "progressives" have to admit that even though much remains to be seen, this kind of cooperation is all but unprecedented. Family-sized housing (not the studios and one-bedrooms that often make BMR housing out of reach for families); funding for job training and community programs— Lennar's second crack seems like a fairly solid one. (See below for details.) In today's Beyond Chron, however, Paul Hogarth recapped the comments of another journo at last night's press conference

[Are] Lennar’s concessions to the community a desperate, eleventh-hour move to save their measure? By facing an alternative measure that would be financially unfeasible for most private developers, Lennar had simply no choice but to “play ball” with the community if they wanted to stay in town.

· CurbedWire Late Edition: Lennar Corp. Agreement Allows for More Affordable Housing [Curbed SF]

Full deets, straight from the San Francisco Labor Council >>

Friday, May 16, 2008

CurbedWire Late Edition: Lennar Corp. Agreement Allows for More Affordable Housing

16May08_hunter%27s.gifHUNTERS POINT—Paging Chris Daly: Developer Lennar Corp. is playing for keeps on the affordable housing front. From the press release issued by the SF Labor Council:

The San Francisco Labor Council, along with its community and interfaith partners, ACORN (Association for Community Organizations for Reform Now) and SFOP (San Francisco Organizing Project) have reached a groundbreaking agreement with Lennar Urban that provides the largest creation of affordable housing of any new development in the city’s history.

Under the agreement, a total of approximately 3,500 new homes that are affordable to very low-income and working families will be constructed in the Hunters Point Shipyard – Candlestick Point and throughout District 10. The vast majority will be constructed as part of the mixed-use development project; in addition, Lennar has committed $27.3 million to provide hundreds more affordable homes throughout District 10. Lennar has also agreed to provide $8.5 million for workforce training.

Here's the deal, people >>




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