Five Point Holdings, LLC is an owner and developer of mixed-use planned communities in California.
The company’s three existing communities have the general plan and zoning approvals necessary for the construction of thousands of homesites and millions of square feet of commercial space, representing a significant portion of the real estate available for development in three major markets in California—Los Angeles County, San Francisco County, and Orange County. In total, the company’s communit...
Five Point Holdings, LLC is an owner and developer of mixed-use planned communities in California.
The company’s three existing communities have the general plan and zoning approvals necessary for the construction of thousands of homesites and millions of square feet of commercial space, representing a significant portion of the real estate available for development in three major markets in California—Los Angeles County, San Francisco County, and Orange County. In total, the company’s communities consist of approximately 23 million square feet of built or planned commercial space and approximately 40,000 homes built or planned.
The company is primarily engaged in the business of planning and developing its three mixed-use planned communities, and its revenues are principally generated by selling residential and commercial land sites to homebuilders, commercial developers and commercial buyers and by providing development management services. The company may also elect to opportunistically retain a portion of the commercial and multi-family properties in our communities as income-producing assets. The company’s three mixed-use planned communities are owned either directly or through a joint venture. The company may elect to enter into additional joint ventures for the purposes of developing its existing communities, as well as for acquiring potential new real estate assets. The company may also pursue other acquisitions, investments, and growth opportunities that would allow it to capitalize on the company’s land development and entitlement expertise.
The company’s planning and development process for its existing communities involves the following components:
Mixed-use planning: The company designs all aspects of its communities, creating highly desirable places to live, work, shop, and enjoy an active lifestyle. Its designs include a wide range of amenities, such as high-quality public schools, parks and recreational areas, entertainment venues, and walking and biking trails. Each community comprises several villages or neighborhoods, each of which offers a range of housing types, sizes, and prices. For the commercial aspects of its communities, the company seeks commercial enterprises that will best add value to the community by providing needed services, additional amenities, or local jobs. In designing the overall program at each community, the company considers the appropriate balance of housing and employment opportunities, access to transportation, resource conservation, and enhanced public open spaces and wildlife habitats. The company continually evaluates its plans for each community and makes adjustments that it deems appropriate based on changes in local economic factors and other market dynamics.
Entitlements: The company typically obtains all discretionary entitlements and approvals necessary to develop the infrastructure within its communities and prepare its residential and commercial lots for construction. The company also typically obtains all discretionary entitlements and approvals that the homebuilder or commercial builder will need to build homes or commercial buildings on its lots, although it may from time to time allocate responsibility for obtaining certain discretionary entitlements to a homebuilder or commercial builder. While the company has general plan and zoning approvals for its communities, individual development areas within its communities are at various stages of planning and development and have received different levels of discretionary entitlements and approvals.
Horizontal Development (Infrastructure): The company refers to the process of preparing the land for the construction of homes or commercial buildings as ‘horizontal development.’ This involves significant investments in a community’s infrastructure and common improvements, including grading and installing roads, sidewalks, gutters, utility improvements (such as storm drains, water, gas, sewer, power, and communications), landscaping, and shared amenities (such as community buildings, neighborhood parks, trails, and open spaces), and other actions necessary to prepare residential and commercial lots for vertical development.
Land Sales: After horizontal development for a given development area or parcel is completed, graded lots are typically sold to homebuilders, commercial builders, or commercial buyers. The company typically sells homesites to a diverse group of high-quality homebuilders in a competitive process, although in some cases, it may negotiate directly with a single homebuilder. In addition to the base purchase price, the company’s residential land sales typically involve participation provisions that allow it to share in the profits realized by the homebuilders. The company sells commercial lots to developers through a competitive process or negotiates directly with the buyer. The company also regularly assesses its development plan and may retain a portion of its commercial and multi-family properties within its communities as income-producing assets, although it does not have any plans to do so.
Vertical Development (Construction): The company refers to the process of building structures (buildings or houses) and preparing them for occupancy as ‘vertical development.’ Single-family residences in the company’s communities are built by third-party homebuilders. Commercial buildings in these communities are usually built by a third-party developer or the buyer.
Community Programming: The company's community building efforts go beyond development and construction. It offers numerous community programs with the goal of building a community that transcends the physical features of its development and connects neighbors through their interests.
Sequencing: In order to balance the timing of its revenues and expenditures, the company typically sequences the development of individual neighborhoods or villages within its communities. As a result, many of the mixed-use planning, entitlement, development, sales, and other activities described above may occur simultaneously in different locations within a single community. Furthermore, depending on the specific plans for each community and market conditions, the company may vary the timing of certain of these activities.
Segments
The company has organized its operations into three reportable segments, all of which are tied to its communities: (its Valencia, San Francisco, and Great Park segments).
Communities
Valencia
Valencia is a mixed-use planned community in Los Angeles County that spans approximately 15,000 acres and can include up to approximately 21,500 homesites, approximately 11.5 million square feet of commercial space, approximately 50 miles of trails, approximately 275 acres of community parks and approximately 10,000 acres of protected open space. The actual commercial square footage and number of homesites are subject to change based on ultimate use and land planning.
Valencia is located in an unincorporated portion of Los Angeles County along the Santa Clara River in the western portion of the Santa Clarita Valley. The property is located approximately 35 miles northwest of downtown Los Angeles, 15 miles north of the San Fernando Valley and is adjacent to the City of Santa Clarita. Valencia is adjacent to Interstate 5 and State Highway 126. Valencia is also approximately 45 miles north of the Los Angeles International Airport (LAX) and 21 miles northwest of the Hollywood Burbank (Bob Hope) Airport (BUR) in Burbank.
In December 2019, the company completed its first residential land sales in the first development area at Valencia.
Candlestick and The San Francisco Shipyard
Candlestick and The San Francisco Shipyard, located on approximately 800 acres of bayfront property in the City of San Francisco, can include up to approximately 12,000 homesites, approximately 6.3 million square feet of commercial space, approximately 100,000 square feet of community space, artist studios and approximately 355 acres of parks and open space. The actual commercial square footage and number of homesites are subject to change based on ultimate use and land planning.
The Candlestick and The San Francisco Shipyard communities are located almost equidistant between downtown San Francisco and the San Francisco International Airport (SFO). They consist of two distinct, but contiguous, parcels of real estate. Candlestick, the southern parcel, consists of approximately 280 acres on San Francisco’s waterfront. This nationally recognized site was the location of Candlestick Park stadium, former home of the San Francisco 49ers and the San Francisco Giants. The San Francisco Shipyard, the northern parcel, consists of approximately 495 acres on the former site of the Hunters Point Navy Shipyard. The company commenced horizontal development activities at Candlestick in 2015.
In November 2024, the company received approvals from the City and County of San Francisco to, among other things, transfer approximately two million square feet of research and development and office space to Candlestick from The San Francisco Shipyard. Candlestick now has the potential to include up to approximately 2.8 million square feet of research and development and office space, approximately 7,200 homesites, and approximately 550,000 square feet of retail, hotel, entertainment, and community uses. The company has commenced engineering for the next phase of infrastructure at Candlestick and expects to begin construction in early 2026.
At The San Francisco Shipyard, approximately 408 acres are still owned by the U.S. Navy and will not be conveyed to the company until the U.S. Navy satisfactorily completes its finding of suitability to transfer, or FOST, process, which involves multiple levels of environmental and governmental investigation, analysis, review, comment and approval.
Great Park Neighborhoods
Great Park Neighborhoods, located in Irvine, California, is an approximately 2,100 acre mixed-use planned community that is being developed on the former site of the U.S. Marine Corp’s El Toro Air base (El Toro Base) in Orange County. Great Park Neighborhoods can include up to approximately 10,500 homesites (including up to 1,056 affordable homesites), approximately 4.9 million square feet of commercial space, approximately 61 acres of parks and approximately 138 acres of trails and open space. The actual commercial square footage and number of homesites are subject to change based on ultimate use and land planning.
Great Park Neighborhoods is approximately seven miles from the Pacific Ocean, approximately nine miles from the University of California, Irvine (UCI) and approximately 17 miles from Disneyland. It is adjacent to the Orange County Great Park, a metropolitan public park that will be nearly twice the size of New York’s Central Park upon completion. Great Park Neighborhoods is close to Interstate 5, Interstate 405, State Route 133 and John Wayne Airport (SNA) in Orange County.
The first homesites at the Great Park Neighborhoods were sold in April 2013, and as of December 31, 2024, the Great Park Venture had sold 8,683 homesites (including 853 affordable homesites) and approximately 166 acres of commercial land, including the Five Point Gateway Campus allows for the development of up to approximately 3.6 million square feet of commercial office and research and development space. As of December 31, 2024, builder sales totaled 6,817 market rate homes at the Great Park Neighborhoods (including 38 homes under a fee build arrangement). The Great Park Venture reacquired the development rights equivalent to approximately one million square feet that had been previously sold with the Five Point Gateway Campus.
Other Properties
The company owns approximately 16,000 acres adjacent to its Valencia community in Ventura County that are primarily used for agriculture and energy operations. The company also owns remnant commercial, residential, and open space land in Los Angeles County that is planned to be sold or deeded to third parties as it develops its Valencia community.
Development Management Services
Through the management company, the company receives fees for providing development management services for Great Park Neighborhoods and received fees for providing property management services to the Gateway Commercial Venture prior to the sale of its remaining interests in the Five Point Gateway Campus in December 2024.
Regulation
The company's development projects are subject to the California Environmental Quality Act (CEQA), which is similar in scope to the National Environmental Policy Act (NEPA) and requires potential environmental impacts of projects subject to discretionary governmental approval to be studied by the California governmental entity approving the proposed projects.
History
The company was founded in 2009. It was incorporated in 2009. The company was formerly known as Newhall Holding Company, LLC and changed its name to Five Point Holdings, LLC in May 2016.
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