Lendlease has been actively engaged with city officials to navigate the challenges posed by post-pandemic market conditions, aiming for a strategy that aligns with the city’s housing objectives.
"Like many projects across San Francisco, a confluence of post-pandemic economic events created roadblocks for Hayes Point," said Claire Johnston, highlighting the broader context impacting developments in the area.
The introduction of legislation allowing for exemptions from the affordable housing requirement symbolizes a possible turning point for the Hayes Point project, aiming to revitalize the long-vacant site.
This $40 million investment by Lendlease in impact fees and housing funds exemplifies their commitment to the region, despite their challenges, stating it should be viewed as their total affordable housing offering.
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