FivePoint Holdings, LLC (NYSE:FPH) visionary waterfront development
The SF Shipyard is creating a new model for the real estate
industry in protecting the environment while providing affordable,
self-sustaining essential services to customers.
The SF Shipyard is emerging as a historic landmark for living,
commerce and the arts on the San Francisco waterfront. Now it’s
becoming a new blueprint for urban environmental health and
sustainability, a blueprint for commercial and residential growth
that addresses climate change.
To accomplish this ambitious plan, FivePoint Holdings has
fostered partnerships with GI Energy, a provider of on-site and
microgrid energy, and the San Francisco Public Utilities
Commission. Together, they are transforming the 400-acre mixed-use
development into an unprecedented community with green
environmental practices that can be sustained for generations.
The benefits will extend to commercial and residential
customers, as these innovations provide premium eco-friendly
services for non-premium market rates.
“The SF Shipyard ‘Eco-Grid’ brings innovation and scale to
infrastructure systems – from water to telecommunications – that
will provide a state-of-the-art, environmentally-friendly live,
work and entertainment community sustainable for generations to
come,” said Kofi Bonner, regional president of FivePoint’s northern
California operations.
Here are some of the key components that will help The SF
Shipyard combat climate change while providing high-end services at
affordable, sustainable rates:
- Renewable Electricity – The goal is to provide all electricity
from renewable sources through pioneering energy storage and
management techniques. Natural gas- and oil-fueled heating is
intended to drop sharply.
- Recycled Water – The guidelines are to reduce consumption while
promoting maximum reuse of water resources, ensuring ample supplies
at favorable cost.
- HVAC Savings – The SF Shipyard’s new technology is intended to
cut HVAC consumption by 68 percent, dramatically softening
environmental impact with the goal of saving 150 million gallons of
water per year.
- Telecommunications – By owning its cell towers and leasing
bandwidth to providers, The SF Shipyard will provide open access at
the best cost, eliminating provider monopolies.
FivePoint is partnering with firms specializing in
sustainability for the development’s separate components. This will
save research and development costs, time, and money, as the best
sustainability practices will be built into the infrastructure from
the beginning — a model that can be replicated by other developers
in the region as well as statewide and nationally.
The SF Shipyard is starting with the four components listed
above because they have proven to be economically viable.
“We know they work,” said GI Energy’s Chief Development Officer
David Yanni. “Once we build them in, we can get more creative and
see what we can add: smart street lights and signs, vacuum trash
collection, wind power, charging stations, infrastructure for
autonomous driving – They’re all possibilities.”
As a result of this collaboration, FivePoint, GI Energy and
SFPUC are laying the complex, sophisticated and highly coordinated
groundwork for innovations and urban design.
“The Eco-Grid is a new concept that required a new way of doing
business,” said Harlan Kelly, general manager of the San Francisco
Public Utilities Commission. “The SFPUC and the City needed to
develop innovative and creative processes to deliver services for
the Eco-Grid's unique needs. Our ability to do that demonstrates
our commitment to a clean environment and the success of this
public-private partnership.”
About The Shipyard and CandlestickThe SF
Shipyard, a former Navy base, anchors a wider development plan that
incorporates the iconic Candlestick Park site into adjoining
communities with a unique range of features including an expansive
750-acre site, more than 12,000 homes, with a selection of
affordable and market-rate apartments, townhomes and condominiums;
approximately 5 million square feet of commercial space, creative
workspace, R&D, artist, maker, and community space; nearly 1
million square feet of retail and entertainment space, and more
than 350 acres of waterfront parks, trails and restored
shoreline.
About FivePointFivePoint, headquartered in
Aliso Viejo, California, designs and develops mixed-use,
master-planned communities in coastal California. FivePoint is
developing vibrant and sustainable communities in Orange County,
Los Angeles County, and San Francisco County that will offer homes,
commercial, retail, educational, and recreational elements as well
as civic areas, parks, and open spaces. FivePoint’s three
communities are: Great Park Neighborhoods® in Irvine, Newhall
Ranch® near Valencia, and The San Francisco Shipyard/Candlestick
Point in the City of San Francisco. The communities are
planned to include approximately 40,000 residential homes and
approximately 21 million square feet of commercial space.
About GI Energy GI Energy is a leading provider
of on-site energy and microgrid solutions in North America. Using
world-class engineering and outstanding execution, GI Energy
specializes distributed energy resources (DER) development,
financing, construction and advisory services. The company helps
customers, including utility companies, real estate developers and
commercial building owners, leverage state-of-the-art technologies
to hedge against high/volatile energy prices, improve energy
reliability and reduce environmental impacts and greenhouse gas
emissions thereby increasing the value of the underlying real
estate assets and company value. GI Energy is headquartered in
Chicago and has offices in New York, Los Angeles and San
Francisco.
Forward-Looking StatementsThis press release
contains “forward-looking statements.” You can identify
forward-looking statements because they contain words such as
“believe,” “will,” “plans,” “expects” and “intends.”
Forward-looking statements are based on FivePoint’s current
expectations and assumptions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that may differ materially from
those contemplated by the forward-looking statements, which are
neither statements of historical fact nor guarantees or assurances
of future performance. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements are set forth in our filings with the
SEC, including our registration statement on Form S-11, as amended
from time to time, under the caption “Risk Factors.”
Media ContactMike
Clinebellmike@amfmediagroup.com415-518-2506
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