The San Francisco Naval Shipyard was once home to a secretive nuclear testing facility. Now Lennar Corp. is building luxury condominiums there.
In San Francisco, an influx of tech workers has driven up the cost of housing and pushed natives to the far reaches of the city. And in the remote waterfront neighborhood of Hunters Point, an entirely new community is rising on the site of a former nuclear testing facility.
Lennar Corp. — the nation’s largest housing builder — and its California-based spinoff Five Point have set out to transform the retired San Francisco Naval Shipyard into a bustling live-work community with 12,000 new homes and approximately five million square feet of office and commercial space. The project has a price tag to match its hefty ambitions: $8 billion.
The redevelopment of the neighborhoods around the shipyard and Candlestick Park, where the San Francisco Giants once played, began in 1999. The project has taken so long, in part, because it involves the cleanup of radioactive contamination.
Tech: A former nuclear test site in San Francisco is turning into an $8 billion neighborhood for the middle class — take a look inside
