After years of false starts, empty land and grand plans that went nowhere, San Francisco\u2019s long-dormant Candlestick Point is finally showing signs of life.<\/p>\n
Mayor Daniel Lurie announced Wednesday that construction has officially begun on the first phase of the massive redevelopment project at the former site of Candlestick Park, the legendary stadium that once hosted the San Francisco 49ers<\/a> and Giants<\/a>.<\/p>\n \u201cFor years, San Franciscans have heard about what would someday rise at Candlestick,\u201d Lurie wrote on Instagram<\/a>. \u201cThe Bayview and Candlestick Point have waited long enough.\u201d<\/p>\n Mayor Daniel Lurie announced that ground has officially been broken on the first phase of the Candlestick development in the Bayview neighborhood of San Francisco. Instagram\/danielluriesf<\/p>\n \t\t\t\t\t\t\tSign up for the California Morning Report newsletter\t\t\t\t\t\t<\/p>\n \n\t\t\t\t\t\t\tCalifornia’s top news, sports and entertainment delivered to your inbox every day.\t\t\t\t\t\t<\/p>\n \t\t\t\t\t\tThanks for signing up!\n\t\t\t\t<\/p>\n The first phase isn\u2019t exactly a skyline-changing spectacle just yet. Instead, developer FivePoint is spending roughly $130 million on the nuts and bolts needed to make the future neighborhood possible, including roads, utilities and other infrastructure across the sprawling site.<\/p>\n But for a property that has sat largely unused since Candlestick Park was demolished in 2015, even bulldozers moving dirt represent a major change.<\/p>\n Social media users were quick to celebrate the long-awaited progress.<\/p>\n \u201cFinally! The Stick has been vacant for way too long!\u201d one commenter wrote, adding hopes that the project would bring \u201c(hopefully affordable) housing.\u201d<\/p>\n Another simply declared: \u201clooks like something is finally happening.\u201d<\/p>\n The development, known as Candlestick, is planned for roughly 270 acres and is expected to eventually include as many as 7,200 homes, along with shops, offices, parks and other community amenities, according to the Wall Street Journal<\/a>.<\/p>\n The Candlestick development is planned for roughly 270 acres and is expected to eventually include as many as 7,200 homes. ZUMAPRESS.com<\/p>\n The timing is particularly notable for a city struggling with a major housing shortage.<\/p>\n The San Francisco metropolitan area was short roughly 130,000 homes in 2024, according to Zillow. San Francisco also ranks among the US cities facing some of the country\u2019s largest housing deficits.<\/p>\n The city\u2019s housing crunch has become even more glaring as rents climb. Apartment rents have increased by more than 10% over the past year, while vacancy rates have fallen below 4%.<\/p>\n Those numbers could make new housing projects increasingly attractive to developers, but Candlestick still has a long road ahead.<\/p>\n FivePoint\u2019s current vision is a far cry from what was originally envisioned for the property. About a decade ago, the developer planned a massive shopping mall for the site. That proposal ultimately fell apart as online shopping transformed the retail industry.<\/p>\n A rendering of what the site will hopefully look like when it\u2019s finished. Instagram\/danielluriesf<\/p>\n Emile Haddad, the chief executive officer of FivePoint, told the San Francisco Chronicle<\/a> in 2019 that even though the project had stalled they were working diligently.\u00a0<\/p>\n \u201cWe have not slowed down,\u201d said Haddad. \u201cWe have not stopped. Anything we can do right now, we are doing it.\u201d<\/p>\n Then came another major obstacle \u2014 the COVID-19 pandemic.<\/p>\n Now, FivePoint is betting that San Francisco\u2019s economic recovery, including the city\u2019s growing artificial-intelligence sector and signs of renewed office leasing, can help breathe life into the long-stalled development.<\/p>\n \u201cIt has been a long time, but I think this is Candlestick\u2019s moment,\u201d FivePoint Senior Vice President Suheil Totah told the Wall Street Journal.<\/p>\n Developer FivePoint officially broke ground today on the project. The company is spending roughly $130 million on the nuts and bolts needed to make the future neighborhood possible. Instagram\/danielluriesf<\/p>\n Still, there are plenty of hurdles between today\u2019s infrastructure work and a bustling new neighborhood.<\/p>\n The project requires enormous upfront investment before developers can see a return, former San Francisco Planning Director John Rahaim told the outlet.<\/p>\n And market conditions could still reshape the plans.<\/p>\n While apartment demand has strengthened, San Francisco\u2019s condominium market has been slower to recover, with prices remaining below their pandemic-era peaks. Candlestick\u2019s location, about five miles south of the city\u2019s traditional business center, also means developers will have to convince businesses and residents that the new neighborhood is worth the move.<\/p>\n For now, though, the long-empty site is finally getting a makeover.<\/p>\n Nearly a decade after the demolition of Candlestick Park, the first shovels are in the ground, and San Francisco is betting that this time, the Stick really is coming back.<\/p>\n Download The California Post App, follow us on social, and subscribe to our newsletters <\/p>\n California Post News: Facebook<\/a>, Instagram<\/a>, TikTok<\/a>, X<\/a>, YouTube<\/a>, WhatsApp<\/a>, LinkedIn<\/a> \t\t\t\t\t\t
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