$410M Downtown Retail Project Breaks Ground

SAN FRANCISCO-Forest City Enterprises and Westfield America ceremoniously broke ground late last week on a $410-million transformation of the landmark Emporium Building and the existing San Francisco Centre into a combined venue totaling 1.5 million sf in the heart of the city’s retail district.

The San Francisco Centre development is scheduled to open in fall 2006, with entrances on Mission, Market and 5th streets. It will be home to the second-largest Bloomingdale’s in the country and the second largest Nordstrom in the country, as well as 200 specialty stores and exclusive boutiques, fine dining, an international gourmet marketplace, office space and a nine-screen movie house by Century Theaters.

Forest City and Westfield each will have a 50% interest in the development, which is expected to attract 25 million visitors each year and to generate $500 million in annual sales. During construction, the existing San Francisco Shopping Centre and Nordstrom will remain open.