Forest City Enterprises

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Forest City Enterprises (NYSE: FCEA, NYSE: FCEB) is a $9-billion diversified real estate management and development company based in Cleveland, Ohio. Its portfolio includes interests in retail centers, apartment communities, office buildings and mixed-use projects in the U.S. The company has recently expanded into military housing communities^[1].

Contents 1 History 2 Projects 3 References 4 External links

[edit] History

Forest City was founded as a family-owned lumber and hardware business in the 1920s by Charles, Leonard, Max and Fannye Ratner. In the 1930s, the company made its first foray into real estate, puchasing lots for commercial development and its first apartment building.

During World War II, the company made pre-fabricated houses for government housing and began building strip malls. In 1955, Forest City began converting its lumberyards, Forest City Lumber into do-it yourself home stores.

In 1960, Forest City became a publicly traded company. In the 1980s, the company began divesting of its non-core real estate holdings. The company sold its retail lumber business to Handy Andy Home Improvement Center in 1987. ^[2].

[edit] Projects

Projects developed or under development by Forest City include^[3]:

• Mesa del Sol, 18,000,000 square feet (1,700,000 m²) of office and industrial space, 23,000 new jobs, 37,500 homes for 100,000 residents, 5,300 acres (21 km²) for parks and open space, and numerous schools and ongoing education facilities located in Albuquerque, New Mexico and co-owned by Covington Capital.

• Westfield San Francisco Centre, an upscale, urban shopping center located in San Francisco, California and co-owned and managed by The Westfield Group.

• Northfield Stapleton is an open-air, 1,200,000-square-foot (111,000 m²) retail town center located at the company's Stapleton International Airport mixed-use redevelopment project in Denver, Colorado.

• Atlantic Yards, a controversial mixed-use development in Brooklyn, New York. This project includes Barclays Center, a new home for the New Jersey Nets, an NBA basketball team owned by the company.

• New York Times Building, a 52-story building designed by architect Renzo Piano.

• Tower City Center, a mixed-use urban redevelopment project that transformed the mostly-vacant Union Terminal building in Downtown Cleveland into a mall, transit, office, and hotel structure.

• Station Square, a 52 acre indoor and outdoor shopping, dining and entertainment complex located in Pittsburgh, Pennsylvania.

• University Park at MIT, a mixed-use urban redevelopment project located on an abandoned industrial site near the Massachusetts Institute of Technology in Cambridge, Massachusetts.

• Central Station, a primarily residential development on the site of a former railroad terminal in Chicago, Illinois.

• Mercantile Bank Building, a mixed-use urban redevelopment project of a historical office complex in Dallas, Texas.

• Victoria Gardens, a mixed-use shopping center development in Rancho Cucamonga, California.

[edit] References

[edit] External links

• Forest City Enterprises