Plans to build a large mall at the former home of the San Francisco Giants and 49ers are dead.

Developer FivePoint Holdings scrapped a 635,000-square-foot mall at Candlestick Point that would have been one of the largest in San Francisco, according to a Securities and Exchange filing in February.

FivePoint plans instead to build 750,000 square feet of office and research space at the site, which requires new city approvals.

An additional 7,200 housing units, a 200-room hotel and 300,000 square feet of commercial space are approved for the 280-acre site.

The shift reflects the disparity between San Francisco’s office and retail sectors. Tech growth has made the city’s office market one of the strongest in the country. In contrast, neighborhoods around the city are grappling with retail vacancies.

Nationwide retailers like Sears and Gymboree have filed for bankruptcy, while San Francisco’s Gap is preparing to split into two companies. The city’s largest new mall, 6x6 in Mid-Market, has no tenants and has plans for a partial office conversion.

Candlestick Point previously housed the baseball and football stadium Candlestick Park, which was demolished in 2015. The “urban outlet mall” was scheduled to open in 2017 and was hailed as part of the economic revitalization of the Bayview-Hunters Point district, along with the adjacent Shipyard project. That project, where FivePoint is also the developer, is stalled indefinitely. The Navy, which controls most of the land, plans to retest soil amid fears of radiation and alleged fraud by testing contractor Tetra Tech EC.

FivePoint, which is a spin-off of original Shipyard developer Lennar Corp., said in earnings reports last year that it was prioritizing development of Candlestick Point while the Shipyard is stalled. Infrastructure construction is ongoing.

FivePoint suspended development of the Candlestick mall in April 2017, citing “the rapidly evolving retail landscape” in an SEC filing at the time.

In a November earnings call, before the mall was canceled, FivePoint CEO Emile Haddad said the company was “working on refining the thought process around what goes in the area of Candlestick in terms of a plan that meets the demands of the future and not be building for something that might be obsolete.”

The San Francisco Business Times first reported FivePoint’s decision to end the mall project.

As part of the termination of the mall, FivePoint ended its partnership with mall operator Macerich, according to February’s SEC filing. Macerich was paid around $70.6 million as part of the agreement.

A FivePoint spokesman declined to comment further. A Macerich spokeswoman didn’t have immediate comment.

Candlestick and the Shipyard have one advantage over other planned office projects: Voters approved a ballot measure in 2016 that exempts the two projects from Proposition M, the city’s 1986 office development restriction. Under Prop. M, the city can approve 950,000 square feet of office space each year, with unused space rolling over to the following year.

Candlestick and the Shipyard are among numerous large projects set to transform the city’s southeast waterfront over the next few decades. Others include India Basin, the Potrero Power Plant redevelopment and Mission Rock.

Roland Li is a San Francisco Chronicle staff writer. Email: roland.li@sfchronicle.com Twitter: @rolandlisf