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September 27, 2007
Forest City News
The NY Times, Planned City Rises Within a City in the Southwest
Forest City builds a city from scratch:
A 25-square-mile stretch of flat acreage here with sweeping views of the Sandia Mountains — said to be the largest tract of undeveloped land in the United States within one city’s limits — is being transformed into a master-planned community that may take 30 years to build.
Albuquerque Studios, an anchor at the Mesa del Sol development, has invested $74 million in building six sound stages ranging up to 48,000 square feet, with two more planned.
The development, called Mesa del Sol, will be a high-tech economic development center, and it is expected to become the site of 60,000 jobs, 38,000 homes and a town center.
It is being developed by a partnership of Forest City Enterprises, based in Cleveland, and Covington Capital Partners, based in Santa Monica, Calif. (Forest City Ratner, a subsidiary of Forest City Enterprises, is a partner in developing the new headquarters of The New York Times Company.)
dBusinessNews, Forest City Declared Quarterly Dividend
Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:FCEB) announced today that the Board of Directors declared a quarterly cash dividend of $0.08 per share (annual rate of $0.32 per share) on the outstanding shares of both Class A and Class B Common Stock, payable on December 17, 2007, to shareholders of record at the close of business on December 3, 2007.
Posted by lumi at September 27, 2007 6:21 AM