By Kris Hudson | The Wall Street Journal
National homebuilder Lennar Corp. has joined with mall owner Macerich Corp. on plans to develop a luxury-outlet mall as the anchor of a redevelopment of San Francisco’s Candlestick Point.
Lennar intends to announce Monday that its Lennar Urban division, which specializes in urban-redevelopment projects, has formed a 50-50 partnership with Macerich to develop the 500,000-square-foot mall at an estimated cost of more than $200 million.
Miami-based Lennar intends to demolish or disassemble the 70,000-seat Candlestick Park stadium, which opened in 1960, by March to start grading and paving the site. Lennar won redevelopment rights to the site in 2006 from the city and state, and it has government approvals to build 6,225 homes, 220 hotel rooms and 635,000 square feet of shops there.
Related: LGE starts construction on plant for massive communications infrastructure products
