Catellus also is weighing the merits of building a smaller 20-story, 370,000-sf tower on the south side of Broadway, either a hotel or office. Bosa Development plans to build two 39-story condominium towers on Pacific Highway, dramatically altering the city's skyline over the next 10 years.
Combined, the value of the two office buildings would be about $255 million. Catellus officials don't have any tenants for the towers, which are not scheduled to break ground until early next year. They wouldn't be completed until 2004.
San Francisco-based Catellus sold land to British Columbia-based Bosa Development last spring for the residential portion of the long-awaited Santa Fe Place. City Center Development oversees approval of development concepts and preliminary designs of all downtown projects.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
