Sunday, November 11, 2007

Hearst has real estate plans in L.A.

As Hearst Corp. begins this week to hear proposals from developers about redeveloping its Chronicle headquarters at Fifth and Mission streets (left), it is moving ahead with its plans to redevelop the former Los Angeles Herald Examiner building (right), the LA Downtown News reports. The LA City Council has rejected appeals from a USC student housing organization that had wanted the site at 1111 S. Broadway. Now Hearst can go forward with its $350 million project which is expected to include 40,000 square feet of office space, 20,000 square feet of retail and a 10,000-square-foot health club in the lot's historic, Julia Morgan-designed Broadway building; it will also feature a new 24-story, 268-unit residential tower on the former press building site on Hill Street, plus a 37-story, 319-unit high rise at 120 W. 12th St. No groundbreaking date has been set. "I appreciate the continuing support from the city during this process," said Marty Cepkauskas, director of real estate for Hearst Corp. (Photo credits: Deanne Fitzmaurice, Chronicle, file;

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