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February 13, 2009
Forest City in the News
The Cleveland Plain Dealer, Forest City makes another bid to bring medical mart to Tower City
Forest City Enterprises used a public forum to try to reverse a backroom deal that the company lost out on.
Forest City Enterprises used a public forum this afternoon in a bid to revive the chances of landing the proposed convention center/medical mart to property it owns at Tower City.
David LaRue, president of the Forest City commercial group, pushed officials of Merchandise Mart Properties Inc. -- developers of the project -- to look again at whether the complex can be built at Tower City.
LaRue said Forest City believes the project can be built there for around the $425 million projection for construction at the site of Cleveland's current convention center -- the favored location of MMPI.
PR Newswire, Forest City Statement in Response to MMPI Presentations on Convention Center/Medical Mart Location Recommendations
NoLandGrab: Yes, we noticed that Forest City Enterprises (FCE) is sounding and acting a little desperate too.
If you keep in mind that FCE is strapped for cash, then recent public statements of outrage made by company officials after losing the bid and yesterday's effort to get back in the game highlight the importance of the Medical Mart deal to the company's financial outlook.
Posted by lumi at February 13, 2009 4:23 AM