The mall was meant to be the centerpiece of the 280-acre project, one of San Francisco’s largest.
The shopping centerpiece of San Francisco’s 280-acre Candlestick Point development has been suspended amid turmoil in the retail industry, placing one of the city’s largest projects in jeopardy.
Developer FivePoint Holdings LLC and its retail partner Macerich Co. paused work on the 635,000-square-foot mall, according to a Thursday email to the project team obtained by the San Francisco Business Times.
FivePoint said in recent SEC filings that “in light of the rapidly evolving retail landscape,” it was “evaluating the viability of a mall” and “exploring potential alternative configurations of the site.” FivePoint said future plans were uncertain.
The mall was to span over a dozen buildings, bounded by Harney Way, Arelious Walker Way and Ingerson Avenue. It was approved along with 7,200 housing units, a 200-room hotel, and an additional 300,000 square feet commercial space. Infrastructure construction is underway at Candlestick, but no new buildings have started construction and design work is ongoing.
The mall was meant to revitalize the former home of the San Francisco 49ers and Giants, who played at Candlestick Park for four decades. The stadium was demolished in 2014, the same year that the mall project was unveiled and originally set to open in late 2017.