FivePoint broke ground at the former Candlestick Park stadium site on 9 September 2026. The Office of the Mayor release describes a 270-acre waterfront district with 7,200 homes at full build-out. The work that started is the infrastructure layer for the first phase.
Roads and utilities carry that phase. The release puts the first phase at seven city blocks with approximately 700 homes, 314 of them affordable, plus early stages of the innovation district and ground-floor retail and restaurants. A water system serving the wider Bayview community is part of the package.
The money behind the first phase
FivePoint will spend $130 million of its own capital on roads, utilities and other infrastructure, with a $20 million Federal Highways Administration grant alongside it (The Real Deal, 7 August 2026). After the utility channels are laid and the roads are paved, the firm is most likely to sell the land to developers who build the homes.
The Office of Community Investment and Infrastructure puts the first-phase cost above $130 million and expects the infrastructure work to finish within two years (CRE Daily, 30 July 2026). FivePoint funds most of those costs before the city reimburses it from the property tax the finished district generates.
The first phase is the only financed section. Walker & Dunlop analyst Alan Ratner put the full project at "hundreds of millions, if not billions of dollars" to develop (The Real Deal, 12 September 2026).
Two home counts circulate for the same phase. The release says approximately 700. The Real Deal and CRE Daily both report 675.
The hotel inside the entitlement
The release lists shops, restaurants, a hotel and entertainment uses inside the district. It publishes no room count, no brand and no opening date.
The Fourth Amendment to the disposition and development agreement, dated 6 August 2025, sets the entitlement at 130,000 gross square feet of hotel use on the Candlestick Site. The same document sets 2,800,000 gross square feet of research and development and office uses on the site and a bonded indebtedness limit of $5.9 billion for Candlestick and the Hunters Point Shipyard together.
No document reviewed here puts a date on the hotel. A reader tracking the lodging line watches the land sale and the first building permit.
The approvals behind the shovel
The Board of Supervisors approved the final subdivision map on 16 June 2026. A final map turns an entitlement into recordable parcels, and the streets have nothing to serve until it exists (Houseberry, 4 August 2026).
The Board passed Resolution 261-26 on 5 May 2026. Houseberry reports that the resolution names 11 public and 13 private streets and renames Bill Walsh Way as Giants Drive.
The Board restructured the deal in October 2024. Houseberry records a bond debt ceiling raised from $800 million to $3.3 billion and a tax-increment deadline moved from 2036 to 2070.
The milestones a reader can check
Four items carry a date and an issuer. The OCII request for proposals to develop, own and operate up to 100 affordable units at Candlestick closes 8 October 2026 (The Real Deal, 7 August 2026). The infrastructure window runs about two years from September 2026. A land sale to a phase developer comes before the first building. A first building permit would date the vertical phase.
Houseberry puts full completion at 2048 and the main park at 2042. The release publishes no completion date.