$500-Mil SoMo Project Gains Approval

SAN FRANCISCO-The San Francisco Board of Supervisors gave the green light to Forest City Development of California to proceed with their $500 million project just south of Market Street.

The project is slated to include 1.5 million sf of space. Anchor tenants will include a 375,000 sf Bloomingdales and a 230-room hotel. The mixed-use project, in the former Emporium building, is expected to open its doors in 2003.

Forest City Development is an affiliate of Cleveland’s Forest City Enterprises. The company develops owns and manages a portfolio of nearly 200 properties throughout the United States. Other commercial holdings in the Bay Area include the Knight Ridder building and the Pavilion in San Jose.