
San Francisco's Board of Supervisors has given the green light to a major project to revamp the Stonestown area, adding nearly 3,500 new homes and a substantial amount of open space. The project, backed by Mayor London Breed and Supervisor Myrna Melgar, is a significant development under the city’s "Housing for All" plan. Notably, the Stonestown development won't see the demolition of the existing mall. Instead, the plan is to transform the current sea of parking lots into a vibrant mixed-use area, complete with new housing units, green spaces, childcare, and senior center facilities, alongside improved circulation and parking, according to the City of San Francisco.
The ambitious development seeks to tackle San Francisco's housing challenges and create a hub of community life with six acres of new parks and plazas acting as the town square. Supervisor Rafael Mandelman noted his connection and excitement regarding the transformation of Stonestown, envisioning the location as a future town center offering dense, urban living on the west side of the city. "Having grown up in the Sunset, Stonestown was a big part of my life as a kid," Mandelman said in a statement, addressing this development's potential to bring amenities and services to thousands of residents.
Attention to infrastructure is a central component of the Stonestown project, with plans to establish an Enhanced Infrastructure Financing District (EIFD) that allows for reinvestment of the net new property tax revenue back into the project. This approach will feasibly speed up the delivery of housing units and community benefactors. The legislation for the EIFD, passed unanimously by the board, also marks an investment in the financial viability of the Stonestown project.
The Stonestown project encompasses a considerable 40-acre site, including the impending residential units and an array of community-focused inclusions. Christie Donnelly, Sr. Director of Development at Brookfield Properties, mentioned the company's enthusiasm for collaborating with the neighborhood and the city. "We're thrilled with the collaboration and support we've received from the neighborhood and the city. Stonestown as a town center will address city housing goals, enhance the location as a focal point of community activity, and contribute to the long-term vitality and resilience of San Francisco," Donnelly stated.