Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN FRANCISCO-Governor Gray Davis has signed legislation that transfers the State’s interest in the 500-acre Hunter’s Point Shipyard to the San Francisco Redevelopment Agency.

City leaders plan to develop Hunters Point Shipyard, which was closed by the Navy in 1974, into an area of mixed residential and commercial use. “After cleanup and construction, Hunters Point can be the new crown jewel of San Francisco,” says Davis. “The city has a strong redevelopment plan in place that will revitalize the neighborhood and give the area an economic boost.”

According to the governor’s office, the Navy and the City of San Francisco reached a Memorandum of Understanding (MOU) earlier this year on cleaning and transforming the land for projects that include low-income housing, a non-profit job training site, commercial development, a cultural arts facility, as well as 10-acres of open space and restored wetlands. The MOU includes $50.6 million in federal money for cleanup.

The State, in the Burton Act of 1968, granted control over Hunters Point to the San Francisco Port Commission and the San Francisco Redevelopment Agency. The City of San Francisco believes the neighboring community would best be served if the land use decision were placed with the San Francisco Redevelopment Agency. AB 2964, by Assemblyman Kevin Shelley (D-San Francisco), appoints the Redevelopment Agency as the Trustee for the public trust area of Hunters Point. The bill also exempts this portion of land from the Burton Act.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.