SAN FRANCISCO—Former homeowners & residents of the Hunter’s Point shipyard will be receiving a $6.3 million settlement from property developers after they allegedly misled residents of the levels of radiation in the area. The former shipyard area was contaminated by radioactive substances during the Cold War in which the NAVY used the area to store radioactive materials in certain areas.
The land developers & environmental firm Tetra Tech Inc. are currently being sued by the more than 650 people who owned property on the site and allege the firm falsified radiation tests that drastically lowered the property values of the shipyard.
After a lengthy mediation process, the Lennar Corporation and FivePoint holdings will now be paying the settlement that will be distributed amongst the plaintiffs.
According to court findings, the plaintiffs accused Lennar Corporation of concealing evidence of the fraud committed by Tetra Tech and they were not able to sell their homes for what they were actually worth.
Homeowners will receive notices by mail in mid-April. They will also receive their portion of the settlement for attorney fees and other costs in June. The average amount each plaintiff will receive will be around $12,000.
