Catellus Gets Out of Home-Building

Catellus Development Corp., one of the West's largest developers, is selling the majority of its home building operations. Is this a sign?

Read Time: 1 minute

July 10, 2000, 6:30 AM PDT

By Chris Steins @urbaninsight

San Francisco-based Catellus is developing the 303-acre Mission Bay project in San Francisco and a mixed-use project at the former Alameda Naval Air Station in Alameda. Now the company is selling most of its development operations to a company called Brookfield Homes of California Inc. "These transactions mark the conclusion of our direct home-building activity and will allow us to focus our residential operations on land development and community master-planning," Catellus' Chief Executive Officer, Nelson Rising. Some say this is an early signal of changes in the real estate and home building market.

Thanks to Chris Steins

Sunday, July 9, 2000 in The San Francisco Chronicle


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