Forest City Enterprises
Encyclopedia
Forest City Enterprises is a $9-billion diversified real estate
management
and development company based in Cleveland, Ohio
, United States
. Its portfolio includes interests in retail centers, apartment communities, office buildings and mixed-use projects in the U.S. The company has recently expanded into military housing communities.
and hardware
business in the 1920s by Charles, Leonard, Max and Fannye Ratner. In the 1930s, the company made its first foray into real estate, purchasing lots for commercial development and its first apartment
building.
During World War II
, the company made pre-fabricated houses for government housing and began building strip malls. In 1955, Forest City began converting its lumberyards, Forest City Lumber, into do-it yourself home stores.
In 1960, Forest City became a publicly traded company. In the 1980s, the company began divesting of its non-core real estate holdings. The company sold its retail lumber business to Handy Andy Home Improvement Center
in 1987..
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
management
Property management
Property management is the operation, control of ususally on behalf of an owner, and oversight of commercial, industrial or residential real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its usable life and condition...
and development company based in Cleveland, Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Its portfolio includes interests in retail centers, apartment communities, office buildings and mixed-use projects in the U.S. The company has recently expanded into military housing communities.
History
Forest City was founded as a family-owned lumberLumber
Lumber or timber is wood in any of its stages from felling through readiness for use as structural material for construction, or wood pulp for paper production....
and hardware
Hardware
Hardware is a general term for equipment such as keys, locks, hinges, latches, handles, wire, chains, plumbing supplies, tools, utensils, cutlery and machine parts. Household hardware is typically sold in hardware stores....
business in the 1920s by Charles, Leonard, Max and Fannye Ratner. In the 1930s, the company made its first foray into real estate, purchasing lots for commercial development and its first apartment
Apartment
An apartment or flat is a self-contained housing unit that occupies only part of a building...
building.
During World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, the company made pre-fabricated houses for government housing and began building strip malls. In 1955, Forest City began converting its lumberyards, Forest City Lumber, into do-it yourself home stores.
In 1960, Forest City became a publicly traded company. In the 1980s, the company began divesting of its non-core real estate holdings. The company sold its retail lumber business to Handy Andy Home Improvement Center
Handy Andy Home Improvement Center
Handy Andy Home Improvement Centers was a Midwestern chain of big box home improvement centers led by president Richard George and headquartered in Schaumburg, Illinois. The stores operated in Illinois, Indiana, Michigan, Missouri, Ohio, Tennessee, and Wisconsin...
in 1987..
Projects
Projects developed or under development by Forest City include:- Mesa del SolMesa del SolMesa del Sol is a proposed mixed use community in Albuquerque, New Mexico.-History:Mesa del Sol was approved as part of a public-private partnership strategy with the State of New Mexico, City of Albuquerque and University of New Mexico and has been planning stages since the 1980s...
- is Forest City largest mixed-use development planned for 100,000 inhabitants and is co-owned by Covington Capital Partners.
- Westfield San Francisco CentreWestfield San Francisco CentreWestfield San Francisco Centre is an upscale, urban shopping center located in San Francisco, California, managed by the Westfield Group and co-owned by Westfield and Forest City Enterprises. It is anchored by Nordstrom and Bloomingdale's, and includes a Century Theatres multiplex, a Bristol...
, an upscale, urban shopping center located in San Francisco, CaliforniaSan Francisco, CaliforniaSan Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
and co-owned and managed by The Westfield GroupThe Westfield GroupThe Westfield Group is an Australian shopping centre group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities...
.
- Public Health Service HospitalPublic Health Service HospitalThe Public Health Service Hospital is a defunct hospital located in the Presidio of San Francisco which was established in 1895. The two non-historic wings were demolished in 2009. The historic 1932 building was rehabilitated for housing and opened in 2010 as the Presidio Landmark apartments.-...
District in San FranciscoSan Francisco, CaliforniaSan Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
's Presidio.
- Northfield StapletonNorthfield StapletonNorthfield Stapleton is an open-air, retail town center located at the Stapleton International Airport redevelopment in Denver, Colorado, United States. It is owned and operated by Forest City Enterprises....
is an open-air, 1200000 square feet (111,483.6 m²) retail town center located at the company's Stapleton International AirportStapleton International AirportStapleton International Airport was Denver, Colorado's primary airport from 1929 to 1995. At different times it served as a hub for TWA, People Express, Frontier Airlines and Western Airlines as well as a hub for Continental Airlines and United Airlines at the time of its closure.In 1995 Stapleton...
mixed-use redevelopment project in Denver, ColoradoColoradoColorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
.
- Atlantic YardsAtlantic YardsThe Atlantic Yards is a mixed-use commercial and residential development project of 16 high-rise buildings, under construction in Prospect Heights, adjacent to Downtown Brooklyn and Fort Greene in Brooklyn, New York City...
, a controversial development in Brooklyn, New York. This project includes Barclays Center, a new home for the New Jersey NetsNew Jersey NetsThe New Jersey Nets are a professional basketball team based in Newark, New Jersey. They are members of the Atlantic Division of the Eastern Conference in the National Basketball Association...
, an NBA basketball team owned by Bruce RatnerBruce RatnerBruce Ratner is an American real estate developer and is a current minority owner of the NBA's New Jersey Nets...
, CEO of Forest City's New York City subsidiary.
- New York Times BuildingNew York Times BuildingThe New York Times Building is a skyscraper on the west side of Midtown Manhattan that was completed in 2007. Its chief tenant is The New York Times Company, publisher of The New York Times as well as The Boston Globe, the International Herald Tribune, and other newspapers...
, a 52-story building designed by architect Renzo PianoRenzo PianoRenzo Piano is an Italian architect. He is the recipient of the Pritzker Architecture Prize, AIA Gold Medal, Kyoto Prize and the Sonning Prize...
.
- Tower City CenterTower City CenterTower City Center is a large mixed-use facility located on Public Square in downtown Cleveland, Ohio. The facility is composed of a number of interconnected office buildings, including the landmark Terminal Tower, a shopping mall, two hotels, and the main hub of Cleveland's three rapid transit lines...
, a mixed-use urban redevelopment project that transformed the mostly-vacant Union Terminal building in Downtown ClevelandDowntown ClevelandDowntown Cleveland is the central business district of the City of Cleveland and Northeast Ohio. Reinvestment in the area in the mid-1990s spurred a rebirth that continues to this day, with over $2 billion in residential and commercial developments slated for the area over the next few years...
into a mall, transit, office, and hotel structure.
- Station SquareStation SquareStation Square is a indoor and outdoor shopping, dining and entertainment complex located in the South Shore neighborhood of Pittsburgh, Pennsylvania, United States....
, a 52 acres (210,436.7 m²) indoor and outdoor shopping, dining and entertainment complex located in Pittsburgh, PennsylvaniaPittsburgh, PennsylvaniaPittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
.
- University Park at MITUniversity Park at MITUniversity Park at MIT is a mixed-use urban renewal project in Cambridge, Massachusetts, United States, occupying land near Central Square between the Massachusetts Institute of Technology campus and the primarily residential neighborhood of Cambridgeport...
, a mixed-use urban redevelopment project located on an abandoned industrial site near the Massachusetts Institute of TechnologyMassachusetts Institute of TechnologyThe Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
in Cambridge, MassachusettsCambridge, MassachusettsCambridge is a city in Middlesex County, Massachusetts, United States, in the Greater Boston area. It was named in honor of the University of Cambridge in England, an important center of the Puritan theology embraced by the town's founders. Cambridge is home to two of the world's most prominent...
.
- Central StationCentral Station (Chicago neighborhood)Currently, Central Station refers to a neighborhood within the Near South Side, Chicago community area in Chicago, Illinois, USA. Once , and later , the City of Chicago planned development is now . It encompasses the former rail yards and air space rights east of Indiana Avenue between Roosevelt...
, a primarily residential development on the site of a former railroad terminal in Chicago, Illinois.
- Mercantile Place on MainMercantile National Bank BuildingThe Mercantile National Bank Building is the former home of the Mercantile National Bank, later MCorp Bank, located at 1700 Main Street in downtown Dallas, Texas . It is a contributing structure in the Main Street District. The design of the skyscraper features Moderne styling from the Art Deco...
, a mixed-use urban redevelopment project of a historical office complex in Dallas, TexasDallas, TexasDallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
.
- Victoria GardensVictoria Gardens (shopping center)Victoria Gardens is a pedestrian-oriented, open-air, mixed-use town center in Rancho Cucamonga, California. Located North of Foothill Boulevard between Day Creek Boulevard and Etiwanda Avenue by the Interstate 15 freeway, the...
, a mixed-use shopping center development in Rancho Cucamonga, CaliforniaRancho Cucamonga, CaliforniaRancho Cucamonga is a suburban city in San Bernardino County, California. As of the 2010 census, the city had a population of 165,269, up from 127,743 at the 2000 census. L. Dennis Michael was elected as Mayor on November 2, 2010. Jack Lam is the City Manager...
.
Awards
- 2005 Honor AwardHonor AwardThe National Building Museum promotes excellence in architecture, engineering, construction, planning, and design. In furtherance of that mission, the Museum instituted an annual Honor Award in 1986 to recognize individuals and organizations that have made important contributions to the U.S.'s...
from the National Building MuseumNational Building MuseumThe National Builders Museum, in Washington, D.C., United States, is a museum of "architecture, design, engineering, construction, and urban planning"...
for revitalization efforts and creation of affordable housing. - 2005 ULIUrban Land InstituteThe Urban Land Institute, or ULI, is a non-profit research and education organization with offices in Washington, D.C., Hong Kong, and London...
Award for Excellence for the University Park at MITUniversity Park at MITUniversity Park at MIT is a mixed-use urban renewal project in Cambridge, Massachusetts, United States, occupying land near Central Square between the Massachusetts Institute of Technology campus and the primarily residential neighborhood of Cambridgeport...
project