FivePoint Breaks Ground on First 675 Homes at Candlestick Point

• FivePoint is moving forward with the long-delayed Candlestick Point redevelopment on San Francisco’s southeastern waterfront.
• The 270-acre project is entitled for about 7,200 homes, 100 acres of open space and up to 3 million square feet of commercial space.
• The first phase will support roughly 675 homes, including a significant affordable housing component, along with new streets, utilities and commercial space.

What FivePoint Is Building at Candlestick Point

FivePoint is finally putting its long-running Candlestick Point redevelopment into motion, transforming the former home of Candlestick Park into a large mixed-use waterfront neighborhood. The master plan calls for approximately 7,200 residential units, with a mix of housing types, along with parks, retail, restaurants, entertainment and office space. FivePoint’s current approvals also allow for approximately 2.8 million square feet of research and development and technology-oriented office space and roughly 550,000 square feet of retail, hotel, entertainment and community uses. FivePoint has described the project as a multi-decade development that will be built in phases as market conditions evolve.

 

 

What The First Phase Means for Investors

The initial construction push focuses on the infrastructure needed to unlock the first portion of the community. The first phase covers seven blocks, including six residential blocks and one commercial block, and is expected to support about 675 homes. Approximately 41% of those homes are planned to be affordable, giving the initial phase a meaningful workforce housing component. For investors, the infrastructure investment is just as important as the housing count. New streets, sidewalks, utilities, bike infrastructure and public spaces will establish the framework for future residential and commercial development across the larger site.

What The Project Could Mean for San Francisco

Candlestick Point represents one of the largest remaining development opportunities in San Francisco. The project is particularly significant as the city continues to face a major housing shortage while trying to bring more investment, jobs and residents back to the southeastern waterfront. FivePoint has pointed to improving demand for technology and research space as one reason for advancing the project now. Company executives have also cited San Francisco's changing business climate and renewed commercial activity as factors supporting the timing. The project also includes substantial public open space. Current plans call for roughly 100 acres of open space, alongside new trails, parks and other infrastructure intended to create a more connected waterfront neighborhood.

What Developers Should Watch Next

The biggest question is execution. Candlestick Point has been in planning for years, with the former stadium demolished in 2015 and the redevelopment facing numerous delays and changing market conditions. Now, FivePoint is moving into the infrastructure phase, with the company preparing grading and construction activity for the next stage of development. The scale is substantial, but so is the potential: thousands of new homes, millions of square feet of commercial space and a major new waterfront district could reshape San Francisco's Bayview area over the coming decades.

“This is about activating a prime piece of San Francisco land that has been underutilized for far too long and putting it to work for the city,” FivePoint Senior Vice President Suheil Totah said.

For landlords and investors, the takeaway is straightforward: Candlestick Point is moving from a long-planned vision toward physical construction, creating one of the city's biggest future pipelines for housing, commercial space and neighborhood growth.