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October 26, 2007
Hearst puts S.F. Properties, including Chronicle HQ, on block
San Francisco Business Times
By J.K. Dineen
Forest City in the news on the Left Coast:
The Hearst Corp. is quietly seeking a developer for 3.9 acres of prime property in the fast-changing Mid-Market neighborhood, 20 separate parcels that include the current home of Hearst's San Francisco Chronicle at Fifth and Mission streets.
In recent weeks, Hearst issued a request for proposals to several prominent local developers. Hearst has asked the developers to assess the value of the land and to suggest what to build there given zoning, historic designations and market conditions.
...
Hearst declined to identify the developers asked to submit proposals. Real estate sources said potential developers include Wilson Meany Sullivan, TMG Partners, and Forest City, which developed the nearby Westfield center with the Westfield Group. Officials from none of the three companies returned calls seeking comment.
NoLandGrab: If Forest City parlayed this into a development deal, it wouldn't be the first time the development company partnered with a media conglomerate — the developer constructed and owns the new NY Times headquarters in partnership with the NY Times Corporation.
Posted by lumi at October 26, 2007 7:10 AM