City Eyes Olympic Club for Redevelopment
Ryan Kim, Chronicle Staff Writer
Saturday, April 1, 2006
Mayor Gavin Newsom along with the San Francisco Board of Supervisors announced today plans to use eminent domain to redevelop the venerable Olympic Club property that sits next to Lake Merced. In a bold move to alleviate its budget crisis, the City plans to take over the two golf courses and surrounding land. “We will turn this property into an example of a diversified Urban Village.” said Newsom. Working with various developers, Newsom unveiled plans that include 5,000 new home sites along with 2,000 condominiums. Also included is low cost housing for up to 5,000 undocumented workers, in housing designed as a transit center.
Acquisition based on values in the assessed tax roles will cost the city close to $100 million, Newsom stated. However developer rights could potentially bring close to $3 billion. “This will allow us to respond to the needs of the people of the City and County of San Francisco” said district 7 supervisor Sean Elsbernd. “After looking over recent eminent domain cases, we have a strong opinion that this taking of private property is in the best public interest.”
When asked about opposition from the Olympic Club, Elsbernd stated “recent Supreme Court rulings have shown that we will prevail.”
Olympic club spokesman declined to comment on the takeover plans.
Edited to point out that this was in fact an April Fools story