The $8 billion redevelopment of the former Hunters Point Naval Shipyard in San Francisco has been set back two or more years amid questions as to whether parcels conveyed to the city have been properly cleaned up. Much of the project has been suspended, but homes currently under construction on a 75-acre parcel will be completed, Kofi Bonner, co-chief operating officer of developer FivePoint, told the San Francisco Chronicle. Some residences already are occupied on that hilltop site; a total of 450 units have either been built or are under construction. Uncertainty about the cleanup has significantly reduced enthusiasm from both homebuyers and investment partners, Bonner said. The situation is “frustrating and exasperating,” he said.
In the wake of allegations the Navy’s cleanup contractor deliberately falsified radioactivity measurements it collected on four parcels already handed over to the city, the Navy recently released a plan to retest the soil. That 40-acre site sits next to the 75-acre parcel with construction under way.
Bonner said he remains optimistic the project can resume, but he didn’t rule out the possibility of abandoning the Shipyard redevelopment if questions about the soil cleanup linger and focusing on the adjacent project at Candlestick Point. “We are very excited by the prospect that this cloud will be lifted at some point — at the end of the day, uncertainty is bad for business and terrible for the people who live there,” he said.
Photo by Lea Suzuki