Newsom announced on July 11, 2006 that the new bid would be centered on a proposed new San Francisco 49ers stadium in the property on which Candlestick Park stands today. At the same time, he stated that the Olympic Village would be constructed at Hunters Point and that it would be converted into affordable housing following the games. This new Olympic stadium would be necessary as Stanford Stadium, the originally planned venue for athletics and the ceremonies for the 2012 bid, has been replaced by a smaller football stadium.