
FivePoint says next wave of infrastructure work at Candlestick Point could begin in 2026
FivePoint Holdings plans to begin building out infrastructure to support the next wave of development at Candlestick Point in 2026, the company (NYSE: FPH) said during a first quarter earnings call Thursday.
CEO Dan Hedigan told analysts FivePoint is working on engineering for the infrastructure 'with the expectation of starting construction early next year.'
The infrastructure work, which includes the extension of Harney Way and Arelious Walker Drive, would allow for approximately 700 housing units as well as future commercial development, FivePoint Senior Vice President Suheil Totah said Friday in a statement provided to the Business Times. FivePoint is working to secure permits to begin the infrastructure work, Totah added.
The updated timeline for infrastructure buildout is among the most concrete FivePoint has put to Candlestick in recent years. It comes approximately six months after the developer secured city approvals to amend the development agreement that governs the future of both Candlestick and the nearby Hunters Point Shipyard.
Those amendments implemented a host of changes meant to help advance work at Candlestick. That included granting FivePoint permission to transfer 2 million square feet of commercial uses from the nearly 500-acre Hunters Point, which was approved in 2010 for 3,500 homes and 5.4 million square feet of commercial use, to the 280-acre Candlestick, which simultaneously received approvals for 7,200 homes and just more than 1 million square feet of commercial use.
Those approvals, operating under the assumption that the Shipyard and Candlestick would be developed in tandem with one another, intertwined the economics of the two sites, positioning the commercial footprint at the Shipyard as a way to balance out more residential units and affordable homes at Candlestick.
But failed remediation efforts at Hunters Point, once home to a lab used by the U.S. Navy to study radiation and nuclear weapons, have held up its redevelopment, even as Candlestick remained shovel-ready. The Navy retains possession of approximately 408 acres at Hunters Point, FivePoint said in public filings, and has repeatedly pushed back its timeline for that property, most recently to 2038.
FivePoint said the amendments to the development agreement approved last fall would make it possible to proceed with Candlestick as a standalone project. The developer has yet to secure either a capital partner or a tenant commitment for the project, two things it has said would be catalysts for vertical development at Candlestick. But the buildout of new infrastructure there would open the door for the first new development at Candlestick since the 337-unit, 100% affordable Alice Griffith community was delivered there in 2018, and could help attract new interest.
Hedigan told analysts Thursday FivePoint is continuing to explore opportunities to bring on a partner at Candlestick. The CEO said last year any future venture could look something like the one FivePoint established with various capital partners at its Great Park mixed-use project in Irvine, which also spans thousand of units and millions of square feet worth of commercial development. There, FivePoint works closely with its partners and maintains an equity interest in the project.
Nearly every large-scale redevelopment effort in San Francisco is on pause amid current, unfavorable economic conditions. But Candlestick specifically caught the eye of San Francisco Mayor Daniel Lurie, who toured the site early this year in the weeks after he took office.
Lurie, speaking to the crowd at the Business Times' 2025 Mayors' Economic Forecast event in February, said he wanted to know how the city could enable FivePoint to move faster at Candlestick.
'The bureaucracy wants to slow us down,' Lurie said then. 'We are going to be rock solid in our push to make things go faster.'
Shares of FivePoint stock were trading at $5.68 per share at market close Friday and are up more than 50% since the beginning of the year.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
TSMC Doubles Down On Costly US Chip Builds
Taiwan Semiconductor Manufacturing (NYSE:TSM) is betting big on US fabs even though it costs about 20% more than churning chips out of Taiwan. After a nudge from the Trump administration, its Arizona plant went from blueprint to busy wafer line. At a Washington AI event AMD's Lisa Su admitted that US runs rack up roughly a 20% premium, so clients like AMD and Nvidia (NASDAQ:NVDA) are shelling out 5%20% more just to snap up capacity. Warning! GuruFocus has detected 7 Warning Sign with MSFT. Pricey labor, hefty equipment import fees and a supply chain still finding its footing back home all add up. That said, Su still expects AI accelerator demand to soar toward a $500 B market over the next five years. You get extra supply security but thinner margins for TSMC and its will be watching TSMC's late?July earnings for hints on how they'll tame those cost overruns. This article first appeared on GuruFocus.
Yahoo
23 minutes ago
- Yahoo
Natural Grocers by Vitamin Cottage, Inc. Announces Third Quarter Fiscal Year 2025 Earnings Conference Call and Webcast
LAKEWOOD, Colo., July 24, 2025 /PRNewswire/ -- Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) today announced that the Company will release its third quarter fiscal year 2025 financial results after the market close on Thursday, August 7, 2025. Following the release via the wire services, the Company will host a conference call with financial analysts and investors at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time). To participate in the conference call, dial 1-888-347-6606 (U.S.); 1-855-669-9657 (Canada); or 1-412-902-4289 (International). The conference ID is "Natural Grocers Q3 FY 2025 Earnings Call." Please dial in at least five minutes before the start of the conference call. Investors and other parties may listen to the webcast of the conference call by logging on via the Investor Relations section of the Company's website at or directly at An audio recording of the conference call will be archived for a minimum of 20 days on the Company's website at About Natural Grocers by Vitamin Cottage Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) is an expanding specialty retailer of natural and organic groceries, body care products and dietary supplements. The grocery products sold by Natural Grocers must meet strict quality guidelines and may not contain artificial flavors, preservatives, or sweeteners (as defined in its standards), synthetic colors, or partially hydrogenated or hydrogenated oils. The Company sells only USDA certified organic produce and exclusively pasture-raised, non-confinement dairy products, and free-range eggs. Natural Grocers' flexible smaller-store format allows it to offer affordable prices in a shopper-friendly, clean and convenient retail environment. The Company also provides extensive free science-based nutrition education programs to help customers make informed health and nutrition choices. The Company, founded in 1955, has 169 stores in 21 states. Visit for more information and store locations. Investor Contact: Reed Anderson, ICR, 646-277-1260, View original content to download multimedia: SOURCE Natural Grocers by Vitamin Cottage, Inc.
Yahoo
23 minutes ago
- Yahoo
Safehold Closes Ground Lease for Affordable Housing Development in San Diego
NEW YORK, July 24, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease for the development of an Affordable Housing community in the Mission Valley area of San Diego, CA. The Low-Income Tax Credit development will provide 227 total units upon delivery in 2028. The project will be developed by The Pacific Companies, a prolific developer of Affordable Housing and repeat Safehold customer. "We're thrilled to expand our relationship with The Pacific Companies and our broader investment into the Affordable Housing sector," said Steve Wylder, Safehold's Head of Investments. "We are increasingly focused on the LIHTC space and are finding our capital—which functions as a low-cost gap filler—can be a very useful tool in moving projects forward and delivering much-needed Affordable Housing." Safehold has closed on eight ground leases for LIHTC developments in California to date, providing over 1,600 units in total. Additional information on Safehold's Affordable Housing platform is available at About Safehold: Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at Transaction Contacts: Steve Wylder Head of Investments T: 212.930.9433E: swylder@ Ethan Torbati Vice President, InvestmentsT: 310.315.5580 E: etorbati@ IR Contact: Pearse Hoffmann SVP, Head of Corporate FinanceT: 212.930.9400E: investors@ View original content to download multimedia: SOURCE Safehold