Lennar Urban / Five Point Communities Selects FirstService Residential to Manage The San Francisco Shipyard Urban Master Planned Development Communities
IRVINE, California -- November 7, 2014 – FirstService Residential, California’s leading property management company, has been selected by Lennar Urban and Five Point Communities to manage communities including The San Francisco Shipyard Master Association as well as the initial two residential condominium developments - The Condominiums at the Shipyard Owners Association and The Townhomes at the Shipyard Owners Association. Escrow closings for all three associations begin in November 2014 with a planned estimated total of 12,000 units for the 800 acre redevelopment of the Hunter’s Point Navy Base.
“Lennar Urban chose FirstService Residential because they know firsthand of our experience and have gained a trust in our knowledge surrounding the planning and management of large mixed use re-developments such as The Shipyard. Over the years we have honed our processes and systems to provide the best in community property management in every area impacting such a development,” said Bob Cardoza, President of FirstService Residential in California. “We are appreciative and very excited to be a part of the community and play a role in what we are sure will be a great addition to a wonderful city”.
Katie Ward, President of FirstService Association Consulting said, “After partnering for many years with Lennar Urban on the forward planning and BRE budgeting for The San Francisco Shipyard, it is exciting that the relationship is now extended to our FirstService Residential team for community management. Our San Francisco management team look forward to delivering the first class service that homebuyers have come to associate with both Lennar and FirstService Residential.”
FirstService Assocation Consulting (a division of FirstService Residential) first began working closely with the developer on the forward planning for this massive and inspiring project in 2006. Those services included governance modeling, financial forecasting, subsidy analysis, management planning and Bureau of Real Estate budgets.
The Shipyard will rejuvenate and create a vibrant mixed-use district that provides a major focal point to the shoreline area of southeast San Francisco. Development will be compact, provide a mix of land uses and be oriented to the transit stops along the new bus rapid transit (BRT) line which will serve the area with frequent transit service.
Identifiable neighborhood districts will be created that will each have distinctive characteristics. These neighborhoods will be woven together and connected by an open space network, pedestrian pathways and landscaped streets. Convenient access will be provided between the new neighborhoods and the waterfront park system. All development will be based on the principles of sustainable building.
About FirstService Residential
FirstService Residential is a subsidiary of FirstService Corporation, a global leader in the rapidly growing real estate services sector, one of the largest markets in the world. As the largest residential property manager in North America, FirstService Residential oversees more than 6,500 properties and 1.5 million residential units across 21 U.S. states and three provinces in Canada. The company has more than 12,000 employees driving local market expertise and managing in excess of $6 billion in budgets. For more information, visit www.fsresidential.com