S.F. shipyard developer brings in government consultant team featuring Willie Brown

The old gang from Golden Gate Global is back again.  This group includes former San Francisco Mayor Willie Brown and his business partner Steve Kay sold Eb-5 visa to Chinese businessmen in order that they receive green cards for their families. A portion of these funds was used to finance the operations of Brown former protégée Kofi Bonner while he was VP of Lennar in San Francisco.

 Following the demise of the EB-5 program Brown and Kay have enlisted their friend Kofi to join them in the management team of Shipyard Advisers.  The new enterprise is designed to move the Hunters Point Project of Lennar forward.  It has been stalled in recent years with radioactive deposits found near where homes were sold and soon to be build.

 Shipyard advisers is supposed to intercede with political leaders in Sn Francisco and Sacramento to get Lennar’s Hunters Point and Treasure Island projects back on track. 

Bonner’s involvement was a bit surprising as he was previously in charge of Lennar’s subsidiary Five

Point Holdings endeavor to become Master Developer for the massive 5 billion dollar project on the 2300

acres of the former Concord Naval Weapons Depot property.  Bonner suddenly left his position after it

has been mired in problems with negotiating PLA with unions and gaining final approval from the City Council to be in charge of what is to build.

 This saga has been well documented in the California News and Review with a two part series last Wednesday and Thursday that written by our columnist Rich Eber who has covered the Concord Naval Weapons saga for over five years.  His recent articles can be accessed by clicking the characters below.

 It is debatable what the gang from Shipyard Associates can accomplish; but given their past record of achievement with their unique brand of  crony Capitalism”, anything is possible.

S.F. shipyard developer brings in government consultant team featuring Willie Brown

By Ted Andersen , San Francisco Business Times, 2/20/20    

The developer of San Francisco’s stalled Hunters Point Shipyard project announced a consultancy agreement Thursday aimed at working with government officials to move the project forward.

Commercial real estate developer Five Point Holdings, LLC (NYSE:FPH) said it has entered into an arrangement with a newly formed entity, Shipyard Advisors, LLC, whose principals include former Speaker of the California State Assembly and San Francisco Mayor Willie Brown.

The team also includes Steven Kay, a San Francisco attorney and businessman, 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, Five Point stated.

Shipyard Advisors will work with Five Point primarily by facilitating communications between federal, state and local agencies to accelerate the completion of the government’s re-assessment and remediation of environmental conditions at the Hunters Point Naval Shipyard and the conveyance of the land for redevelopment, the company stated.

The stalled shipyard megaproject was supposed to deliver thousands of homes and millions of square feet of office space. That project is on hold indefinitely as the Navy and other agencies re-test the soil after finding alleged fraud related to the clean up of the site.

Here’s where some of the Bay Area’s most ambitious megaprojects stand

From the Brisbane Baylands to Treasure Islands, some megaprojects are moving ahead — while others remain stalled.

“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,” Emile Haddad, Five Point chairman and CEO, said in a statement. “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.”

“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,” Brown said in a statement.

Five Point recently received Planning Commission 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, about 1,600 homes and 300,000 square feet of lifestyle retail-entertainment and amenity space. The Candlestick development is expected to include approximately 7,000 homes.

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.

Comments

  1. Hummmm,,,,, is that like inviting in the shark to block the harbor and then dumping in alligators?

    Now you know how blatant Democrats have become. It was one of the reasons the Soviet Union collapsed. They kept skimming off the top.

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