SAN FRANCISCO — The San Francisco 49ers will move to a new facility at the corner of First and Castro Streets as part of a $1.6 billion redevelopment project to transform the old Levi’s Stadium into a new high-performance, multi-purpose facility.
The 49ers announced Wednesday that the site is now called The South Bay Commons, which will include a two-story parking structure with a mixed-use building with a hotel and retail space.
The Southbay Commons project was announced on June 12, 2018 and is expected to be completed in 2021.
The 49ers, who are currently in Jacksonville, are moving from Levi’s to The Southbank at the end of 2019.
The stadium site is already home to several sports teams and is home to a number of restaurants, a nightclub and a popular concert venue.
The site is also home to The 49er Center, which hosts many concerts, sports events and concerts.
The building is also used for an arena.
The new stadium will include two levels of suites, a hotel, a fitness center and retail.
The area of The South Bank will be the site of a new community center, offices and a hotel.
The first phase of The 49, which is expected begin construction in 2022, will be comprised of a 2,000-seat stadium and approximately 1,200-seat practice facility.
“Our new home will provide the best possible conditions for the NFL’s professional athletes, providing an unparalleled experience for players, coaches and fans,” 49ers CEO Jed York said in a statement.
“Our new stadium is the largest in NFL history and will provide fans and players a unique, world-class experience in one of the most vibrant, dynamic and dynamic urban markets in the United States.”
This is a breaking news story and will be updated as more information becomes available.