Reports are that Mayor Lee's effort failed to close a deal in China for investment with Lennar at Hunters Point and Treasure Island. A lot was riding on this deal, and just last Sunday Willie Brown was crowing in his column that with Rose Pak in charge of Ed Lee's trip and appointments, San Francisco would outdo Governor Jerry Brown's similar trip aimed at rounding up investment for Oakland's new development. But it was Ed Lee who came home with worse then nothing and Jerry Brown who got the investment deal.
What I found more worth discussing than yet another swipe at Ed Lee and the horse he rode in on is the run down from the Business Times about Lennar's repeated false starts at getting its Hunters Point projects underway. The picture outlined in the SFBT story, at least to me, raises serious questions about how deep Lee and earlier Newsom got with Lennar while deadline after deadline passed.
Was there something more City Hall should have done? What are the ripples? Hundreds of housing units for low-income residents were part of the deal (including those being funded through the Mayor's Affordable Housing Fund). The toxic site still needs cleaning. The addition of new housing and offices might have slowed the cost of living and working in San Francisco.
Was SF too gullible? Failed to do due diligence before getting on the plane and flying to China? Used it as a dumping ground for City Hall insiders (the list is long, from Willie Kennedy to Kofi Bonner)?