SAN FRANCISCO—Lennar Corp., one of the nation'sleading homebuilders, and Macerich, one of thecountry's top operators and developers of high-performing retailproperties, have unveiled a joint venture partnership to develop a500,000 square-foot urban outlet project that will help anchor thenew residential community at CandlestickPoint.
Lennar and Macerich are 50/50 partners on theurban outlet portion of the mixed-use development. Today'sannouncement continues Lennar's commitment to the community and theongoing transformation of Candlestick Point and The SanFrancisco Shipyard.
The Candlestick project is expected to create more than 3,000permanent jobs and deliver more than 6,000 homes.

“We are pleased to partner with Lennar to develop this urbanoutlet project at Candlestick Point in San Francisco, a primelocation in one of the strongest regional economies,'' saidRandy Brant, executive vice president, realestate, Macerich. “We fully expect that the Candlestick Pointproject will be a magnet for economic activity andcommunity-building.''

In all, the Candlestick Point development will be one of thelargest urban mixed-use projects in the United States. Inaddition to the urban outlet component, it will feature a diversityof commercial offerings, including neighborhood retailers, arestaurant village, an African diaspora-themed marketplace, movietheaters, a performance venue and hotel. It also willinclude rental and for-sale homes, all anchored by afirst-of-its-kind urban outlet shopping district that will featuremajor regional, national and internationalretailers.