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Forest City Projects Advance in Four Cities

CLEVELAND-This week the company received approvals from four different cities to move forward on four large mixed-use developments.

By Danielle Anderson | Updated on December 20, 2006

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CLEVELAND-Locally based Forest City Enterprises Inc. got nods from four different cities for massive mixed-use developments this week. The projects receiving approvals to move forward are the planned $500-million revitalization of the Echo Bay waterfront in New Rochelle, NY; the $152.8-million Shops at White Oak Village in Richmond, VA; a possible 690,000-sf redevelopment in Fresno, CA; and the $226-million Shops at Broad Street in Mansfield, TX.

In New Rochelle, Forest City Residential was tapped as the master developer for a 26-acre site along the Echo Bay waterfront. Details of the redevelopment, which is being planned by architect Peter Calthorpe, are still being finalized. Initial plans call for a mixed-use community with hundreds of residential units and a variety of commercial uses, including shopping, dining and recreation facilities. Key components of the 26-mile redevelopment will be a waterfront promenade and continuous shoreline access. City officials estimate that the project will cost $500 million and that construction will begin in late 2009 or early 2010. The city currently owns 10 acres of the 26-acre project area.

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