On the block?: FivePoint phases Candlestick for sell-off as resi market moves

Before new homes you need roads, and FivePoint Holdings is about to spend a nine-figure chunk of its own capital as the firm prepares to carve San Francisco’s southeasternmost plot into something resembling a neighborhood.  Next month, FivePoint Holdings will break ground on Candlestick, the 270-acre masterplanned community that envisions 7,200 homes, nearly 3 million square feet of office and research and development space, as well as retail and parks. The full project is likely to cost “hundreds of millions, if not billions of dollars, to develop,” according to Walker & Dunlop analyst Alan Ratner.  Yet the firm doesn’t have […]

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