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Shopping center construction at Candlestick Point suspended

April 7, 2018

ABC7news – excerpt (includes video)

You can’t blame this stalled construction at Candlestick Point on any permitting process. You can blame it on too much empty retail due to business closures.

The San Francisco Business Times reports the developer of a planned 635,000 square foot shopping mall has put the whole project on hold.

Five Point Holdings [holds Lennar now] would not confirm that to ABC7 News. But its CEO says the company is still discussing the retail configuration, because it wants to make sure the project will work for the future… (more)

3 Comments leave one →
  1. carol permalink
    April 11, 2018 1:08 pm

    Now that the TetraTech Hunter’s Point clean-up will likely have to be re-done, the Five Point SF Shipyard development is on indefinite hold. It makes sense that the nearby shopping center by the same developer is also on hold.


  2. April 11, 2018 2:06 pm

    It is also worth noting that the entitlements have already changed hands, with probably no transfer fees collected as the transfer took place in the form of a merger or acquisition. This is how large corporations and conglomerates avoid paying transfer fees and keep their property taxes low.


  3. April 11, 2018 2:11 pm

    These toxic cleanups should also be noted as a primary reason for the slow pace of development of some of the larger housing projects. No laws are going to clean these up any faster, although Peskin’s call for buckets of money could speed the pace of the cleanup of the three large projects in San Francisco.


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