FivePoint Holdings, a California developer of mixed-use planned communities, is looking to accelerate its plans to build housing, office, and retail space at Candlestick Point in San Francisco.
The San Francisco Business Times’ reports that FivePoint’s CEO Dan Hedigan told investors earlier this month that it is moving its timeline for Candlestick Point ahead of its plans for the Hunters Point Naval Shipyard site.
In 2019, the City approved the developer’s initial plan to build 1,600 homes in Candlestick Point, but construction has not yet begun. Five Point’s phase-two plans call for more than 7,000 homes as well as a hotel, office and retail space, and research and development facilities.
FivePoint had planned to build more than 3,000 homes, plus millions of square feet of commercial space, at the former Hunters Point Naval Shipyard. It put those plans on hold in 2018, after the Environmental Protection Agency found that two employees of the contractor, hired to clean up the contaminated shipyard, falsified radioactive soil testing reports.
Last July, a report by the San Francisco Civil Grand Jury claimed that neither the city, nor Navy, are paying enough attention to the threat of rising sea levels, which could pull up buried toxins at Hunters Point. It recommended that the Mayor’s office fund an independent study, a move that the Board of Supervisors’ Oversight Committee also supports.
