Five Point Holdings is starting engineering work on the next phase of Candlestick Point in San Francisco, which will add roughly 700 residential units. The full redevelopment approved by the city last year envisions 7,000 new homes and 1 million square feet of commercial space on a site that has sat mostly dormant since 2018.
One of the largest redevelopments in San Francisco's history is finally moving forward again. Five Point Holdings, the developer over at Candlestick Point, recently indicated in an earnings call that they've started engineering work in connection with infrastructure development for the next phase of the project that would bring 700 new homes and new commercial space to the site. Late last year, the city approved a redesign of the Candlestick Point development, which will bring 7,000 new homes and 1 million square feet of commercial space to the long underutilized Candlestick Point area. There hasn't been any new building there since an affordable housing project, 337 units, was built there in 2018. So it's definitely a step forward in the right direction, finally moving closer to getting more development at the site. There are gonna be a ton of updates at this mega development over the coming years, so make sure to follow me if you want more information.
