Hearst Corp Planning To Redevelop San Francisco Block

Hearst Corporation is planning to redevelop the city block that surrounds its San Francisco Chronicle offices at 5th and Mission. The update would include a new mixed use tower containing 1.3 million square feet of commercial space.

While the Chronicle building would remain "the adjacent former Examiner building on Fifth Street, which is not considered historic, would be replaced with an office tower slightly higher than the InterContinental hotel across the street."

The developer wants to turn the tower into a creative work space divided between the arts and technology companies the city wants to attract from Silicon Valley.

"Maximizing social value and maximizing business value can be very much in tandem, and the best in urban development does that," said Alexa Arena, vice president for Forest City-San Francisco developers.

Full Story: Hearst Plans Major Development Around Chronicle

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