After years of delays and changing plans, developer FivePoint has started the first $130 million phase to build roads, utilities and site infrastructure across the 270-acre former Candlestick Park site, a step toward as many as 7,200 homes plus retail, offices and parks.
FivePoint has begun a $130 million first-phase buildout of roads, utilities and other infrastructure across the 270-acre Candlestick Point site.
The full plan envisions up to 7,200 homes and mixed uses — housing, shops, offices, parks and community spaces — but will require years and billions more to complete.
# What just started Construction has officially begun on the Candlestick Point redevelopment in San Francisco. The developer FivePoint is investing about $130 million in the project's first phase to install roads, utilities and other essential site infrastructure across the former Candlestick Park property.
# What the first phase covers This initial work focuses on the groundwork that must come before vertical construction: street networks, water, sewer and electrical connections, and other base infrastructure to make the 270-acre site build-ready. The work will not immediately produce homes or office towers but is necessary for future buildings and amenities.
# The long-term vision The master plan for Candlestick Point anticipates a mixed-use neighborhood with as many as 7,200 homes, plus retail, office space, parks and community facilities. That scale is intended to contribute to San Francisco's housing supply at a time the region faces a large housing shortfall and low vacancy rates.
# Why this matters for housing
# Why the project was delayed Candlestick Point has a long history of shifting plans and setbacks. Earlier proposals included a major shopping mall that was abandoned as retail demand changed. The COVID-19 pandemic further disrupted financing and construction. FivePoint kept control of the site and has returned to the project as local economic conditions improved.
# Remaining challenges Delivering the full neighborhood will require substantial additional capital — potentially billions — and sustained demand for housing, retail and offices. Upfront infrastructure costs are high before any revenue-generating buildings exist. The site sits about five miles south of downtown San Francisco, which may influence market demand and the types of tenants or residents the development attracts.
# Signs of momentum Officials framed the start of infrastructure work as a significant practical step. City leaders and FivePoint point to recovering office markets and renewed economic activity in San Francisco as factors that could make the larger project viable over time.
# What to watch next
Plans for a $1 billion office development at 725 Harrison Street, which were first announced in 2015 and later put on hold during the pandemic, are now moving forward, as the developers recently received an 18-month extension.
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