Lennar's Bayview Megaproject Needs a Little Help

A screwed real estate market and apparently rising construction costs (really?) are making it difficult for Lennar's Bayview-Hunters Point megaproject to get off the ground.

Lucky for them, there's, incredibly, bailout money from the state floating around in a fund somewhere, just waiting to be snatched up by developers of infill housing projects.

The fund was created by voters in 2006 for just that purpose, and should Lennar come in contact with it, the timing would be just swell. The San Francisco Redevelopment Agency today is voting on an authorization to ask the state for a $14.6 million injection to start building the 1,200 homes slated to be part of Phase I. C'monnnnnn free money!

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