header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Mostly cloudy
Mostly cloudy
60°F
 
Calendar
Today in
S.C.V. History
December 3
1887 - Prohibitionist Henry Needham purchases land in Newhall, attempts to establish "dry" colony [story]
H.C. Needham


| Thursday, Feb 20, 2020
Five Points Candlestick and The San Francisco Shipyard
Rendering of Candlestick San Francisco Outfield Market Hall Plaza. Photo courtesy of CandlestickSF website.

 

Five Point Holdings, LLC (“Five Point” or the “Company”), an owner and developer of large mixed-use, master-planned communities in California, including Valencia, announced Thursday it has transitioned the operations for its Candlestick and The San Francisco Shipyard communities in the city of San Francisco.

As part of the transition, the Company entered into a consulting arrangement with a newly-formed entity, Shipyard Advisors, LLC, whose three principals are: Willie Brown, former Mayor of San Francisco and Speaker of the California State Assembly; Steven Kay, prominent attorney and businessman in San Francisco; and Kofi Bonner, former Co-Chief Operating Officer of Five Point. In connection with the new consulting arrangement, Bonner will resign from his Co-COO position at Five Point to join Shipyard Advisors.

Shipyard Advisors will work closely with the Company on a number of initiatives. The primary initiative will be facilitating communications between the various federal, state and local agencies to accelerate the completion of the government’s re-assessment and, if necessary, remediation of environmental conditions at the Hunters Point Naval Shipyard and the subsequent conveyance of land for redevelopment of this vital area of San Francisco.

Emile Haddad, Chairman and CEO, said, “More than 20 years ago, the city of San Francisco committed to redevelop the Hunters Point Naval Shipyard into a vibrant new mixed-use development benefiting the neighboring Bayview community and the city at large. One of those commitments is the delivery of new affordable homes, which are needed more today than ever. I believe this new arrangement will bring a focused effort by everyone to allow this project to move forward and deliver the housing and benefits long-since anticipated for this community.”

Brown added, “Working alongside Emile and the Five Point team, Shipyard Advisors will join forces with the City and the federal and state agencies to give the community the economic opportunities they deserve and need, as well as to connect the Candlestick and Shipyard communities to the downtown.”

In connection with the resignation of Bonner, Lynn Jochim will be the sole Chief Operating Officer for the Company. Jochim is currently serving as the Co-Chief Operating Officer whose primary duties entail the day to day operations of the Company’s two communities in Southern California, the Great Park Neighborhoods in Irvine and Valencia (formerly known as Newhall Ranch) in Los Angeles County.

Her duties now will also include overseeing the day to day operations of the Company’s communities in San Francisco, where she will be focusing her efforts on operations at Candlestick. The Company recently received regulatory approvals for its first phase of Candlestick, which previously was planned for a retail fashion outlet mall and is now planned to include 750,000 square feet of office space, approximately 1,600 homes and 300,000 square feet of lifestyle retail-entertainment and amenity space. As currently planned, Candlestick ultimately will include approximately 7,000 homes.

With the transition of operations from Bonner to Jochim, Haddad commented, “Kofi has successfully led the entitlement and operational efforts for our Company in San Francisco, including the recent approvals for our first phase at Candlestick, and we look forward to continuing our working relationship with Kofi and Shipyard Advisors. As we turn our focus to Candlestick’s first phase, I am confident that it will be in good hands under Lynn’s operational leadership. She has executed exceptionally well over many years at our Southern California communities, including recently completing our first land sales at our Valencia community in Los Angeles.”

About Five Point
Five Point, headquartered in Irvine, California, designs and develops large mixed-use, master-planned communities in Orange County, Los Angeles County, and San Francisco County that combine residential, commercial, retail, educational, and recreational elements with public amenities, including civic areas for parks and open space. Five Point’s communities include the Great Park Neighborhoods in Irvine, Valencia (formerly known as Newhall Ranch) in Los Angeles County, and Candlestick and The San Francisco Shipyard in the city of San Francisco. These communities are designed to include approximately 40,000 residential homes and approximately 23 million square feet of commercial space.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

1 Comment

  1. John Q. Developer says:

    The overarching questions is, when will Fivepoint make any money in SF? They post huge operating losses. Kofi has made nearly $3MM per year and has nothing to show for it.

Leave a Comment


Latest Additions to SCVNews.com
1887 - Prohibitionist Henry Needham purchases land in Newhall, attempts to establish "dry" colony [story]
H.C. Needham
The Los Angeles County Department of Public Health has received confirmation of its first case of COVID-19 with mutations consistent with the new Omicron variant (B.1.1.529).
Thursday COVID Roundup: First Case of Omicron Detected in L.A. County
Andrew Ghassemi, senior vice president of Spectrum Commercial Real Estate, Inc., is pleased to announce the recent sale of a Class-A office building in Valencia.
Spectrum Real Estate Closes on $3.5M Sale of Valencia Office Building
Metro Los Angeles celebrated the groundbreaking Wednesday for the I-5 North County Enhancements Project, which will improve the operations and safety of the I-5 freeway for motorists in the Santa Clarita Valley.
Interstate 5 Improvement Project Breaks Ground in Santa Clarita
Do you take the easy route with a bag and tissue paper because your wrapping job looks like a crumpled mess?
Learn How to Wrap Gifts Like a Pro Thanks to JCI Santa Clarita
Commercial driver’s licenses, learner’s permits, endorsements and special certificates expiring between March 2020 and February 2022, are automatically extended through Feb. 28, 2022, the California Department of Motor Vehicles announced Thursday.
DMV Extending Commercial Driver’s Licenses, Learner’s Permits
1972 - Five wounded in Vagos biker gang shooting at Curtis & JoAnne Darcy's Acton '49er Saloon [story]
Darcys 49er
We are in the home stretch of the holiday season. I hope you have made plans to safely celebrate with family and friends. I also want to encourage you to keep safety in mind when shopping for that perfect gift for your loved ones.
City Manager’s Monthly Message – December 2021
La Mesa Junior High 8th graders will soon be building water bottle rockets as part of their science program, thanks to funding from California Credit Union through its Fall 2021 Teacher Grant program.
La Mesa Teacher Wins Fall 2021 Teacher Grant
Los Angeles County Animal Care and Control is celebrating the 'Paw"lidays by offering the gift of a new furry friend. 
Adoption Fees Waived Through End of the Year
Santa Clarita Artists Association is pleased to showcase an oil painting demo by Sharon Weaver on Feb. 21, 2022.
Artists Association Presents Oil Painting Showcase With Sharon Weaver
The Santa Clarita Valley Sheriff’s Station has once again begun collecting toys as part of the Annual Holiday Toy Drive.
Sheriff Station Seeks Donations For 2021 Holiday Toy Drive
The Santa Clarita Public Library turning the page towards a new month with events and programs for all to enjoy.
Adventure Awaits At Public Library This December
The Los Angeles County Department of Public Health confirmed Monday 18new deaths and 1,473 new cases of COVID-19 countywide, with 39,128 total cases in the Santa Clarita Valley.
Wednesday COVID Roundup: Omicron Variant Detected in Northern California
Tune in for the premiere of the final episode and season 3 finale of SCVTV's music show -- Soundcheck -- showcasing the rock sounds of the dynamic duo Miss Britt & Woogie Wilcox, and acoustic stylings of CJ May in a live, on-location performance at the Rancho Camulos Museum that will be broadcast on all of SCVTV's platforms this Thursday.
Dec. 2: Soundcheck Presents Performances from Miss Britt & Woogie Wilcox, CJ May
It's December which means the return of the Santa Clarita International Film Festival's opening night is right around the corner. 
Santa Clarita International Film Festival’s Opening Night Coming Soon
For years, the Santa Clarita Valley Education Foundation has provided support to community’s schools, teachers and students through literacy programs, events, scholarships, grants and more.
Ten Reasons to Support the SCV Education Foundation on Giving Tuesday
It has been a true honor and a pleasure to serve as the Mayor of Santa Clarita this year.
Santa Clarita Mayor’s Monthly Message – December 2021
The holidays are here and Santa Clarita transit is welcoming residents and visitors to join them on a Holiday Light Tour. 
Take A Seasonal Journey On the Holiday Light Tour
1929 - Saugus train robber Thomas Vernon apprehended in Pawnee, Okla. [story]
Tom Vernon
Join the Valley Industry Association Friday, Dec. 17, at 11:45 a.m., for its 2022 Board Installation Luncheon.
Wilk to Preside Over VIA’s 2022 Board Installation Luncheon
The Los Angeles County Animal Care Foundation combats animal cruelty by paying for officer training, equipment, and supplies to enforce animal cruelty laws, rescue abused and neglected animals, and support prosecution of animal abusers.
County Animal Care, Control Seeking ‘Giving Tuesday’ Donations
The William S. Hart Union High School District has been awarded the National Empowered Seal for its commitment to whole-child education by EVERFI.
EVERFI Awards Hart District National Empowered Seal
SCVNews.com
%d bloggers like this: