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April 11, 2008
Forest City in the News
Dallas Morning News, 1407 Main, all-new residential tower in downtown Dallas, to open soon
While 1407 Main is the first new apartment tower downtown has seen in ages, it won't be the last.
About three blocks away, Forest City Enterprises is building its 15-story Element apartment tower, which is set to open later this year.
That new building – adjacent to the historic Mercantile National Bank tower – will contain 156 units.
Fresno Bee, Fresno council candidates share downtown views
Forest City Enterprises' Downtown Redevelopment project in Fresno is a central issue in the race for City Council. Some pols support more subsidies, but eminent domain is a sticking point.
GlobeSt.com, Forest City Lands Hotel for $350M Promenade
Forest City Enterprises has brought on Starwood Hotels & Resorts Worldwide Inc. to operate an Aloft Hotel at the Bolingbrook Promenade, a mixed-use project being developed by the Cleveland-based developer. Forest City is also announcing that it plans on adding office condominiums and age-directed housing to the 200-acre development, located at Interstate 355 south of Boughton Road.
The Press Enterprise, Calimesa tax incentives possible for shopping center developers
Downturns in the economy are the "times that great things are done," if the right tax incentives are in place.
City officials are considering providing tax incentives to developers of a sprawling, pedestrian-oriented regional shopping center to be built south of Interstate 10 between Singleton and Cherry Valley roads.
In return, Calimesa could reap as much as $6.5 million in annual tax revenues once the Oak Valley Town Center is built out to as much as 3 million square feet of space, developers say.
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Forest City is a 90-year-old real estate development firm with $10 billion in assets. The company built the 160-acre Victoria Gardens in Rancho Cucamonga and has projects in 24 states, including 16 other regional malls. Its 126,000-square-foot expansion of The Promenade in Temecula is slated for completion next March.Developers plan to foot the bill for the entire first phase -- 1.2 million square feet -- but Calimesa will be asked to kick in a portion of sales and property taxes for the next two construction phases, which will rely heavily on I-10 interchange construction.
All American Patriots, Colorado Governor Ritter Congratulates Colorado Springs And Forest City Stapleton For Energy Star Awards
Colorado Governor Bill Ritter today congratulated two Colorado organizations, Colorado Springs Utilities and Forest City Stapleton, for being selected by the U.S. Environmental Protection Agency and the Department of Energy as 2008 ENERGY STAR Award winners.
Posted by lumi at April 11, 2008 4:16 AM