The Mills Corporation to Develop on San Francisco Waterfront

Wins Port Commission Bid for Landmark, Mixed-Use Recreation Project



Apr 20, 2001, 01:00 ET from The Mills Corporation

    ARLINGTON, Va., April 20 /PRNewswire Interactive News Release/ -- The San
 Francisco Port Commission has awarded The Mills Corporation exclusive
 negotiating rights for the development of nineteen (19) acres of waterfront
 piers on San Francisco Bay.  The winning project is a partnership of Mills and
 the YMCA of San Francisco for an extraordinary 900,00 square-foot mixed-use
 recreation venue on Piers 27-31 along the northeast waterfront, between Pier
 39 and the Bay Bridge.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010420/DCF009-a )
     The project will be a landmark showcase for The Mills, and will include:
 
      *  300,000 square feet of affordable YMCA recreation facilities open to
         the public.  Some of the feature activities include: rock climbing, an
         extreme skate park, two swimming pools and a wide-array of water and
         sailing activities
 
      *  150,000 square feet of recreational retail and dining
 
      *  200,00 square feet of Class A office space
 
     Among the project's unique features:
 
      *  The Mills/YMCA will open the San Francisco Bay to the city by
         incorporating a four-acre public plaza, and over 450,000 square feet
         of open space as well as Bay Steps leading to the water
 
      *  The YMCA facility will be the largest, most state-of-the-art
         recreation space of its kind in America
 
      *  Within the office space, 20,000 square feet will be earmarked for non-
         profit organizations in the area -- the largest private sector
         donation of non-profit office space in the City
 
     Laurence C. Siegel, The Mills Corporation's Chairman and CEO stated, "We
 are grateful to the Port Commission and people of San Francisco for this
 special opportunity to create a dynamic recreation-based project worthy of
 this spectacular Bayfront.  With our teammates at the YMCA, we look forward to
 a new bond and partnership with the City to create a place that reflects San
 Francisco's unique heritage, culture and energy."
     Mills and the YMCA submitted their plans for Piers 27-31 to the Port of
 San Francisco on December 5, 2000 in response to a request for proposal issued
 by the San Francisco Port Commission.  Now, Mills will enter a period of
 negotiations with the Port to move ahead on the project.  It is anticipated
 that The Piers will be open in 2004.
     Added Siegel, "For The Mills Corporation, this is an important step in the
 evolution of our company as a leader in the creation of next-generation out-
 of-home experiences.  We have long-held an affinity for the Bay Area, and The
 Piers is a terrific opportunity for us as a Company, to work, to innovate, and
 to plant community roots."
 
     The Mills Corporation is a self-managed real estate investment trust
 (REIT) based in Arlington, Va., that owns, develops, leases, manages and
 markets a portfolio of 12 market dominant retail and entertainment
 destinations (11 Mills and one Block) totaling approximately 17 million square
 feet in 10 states.  Arundel Mills, located in the Baltimore/Washington
 corridor, opened this November.  Currently the company has five projects under
 construction and/or development in the United States and one in Toronto,
 Canada.  The company's Internet address is http://www.millscorp.com .
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X41867571
 
 

SOURCE The Mills Corporation
    ARLINGTON, Va., April 20 /PRNewswire Interactive News Release/ -- The San
 Francisco Port Commission has awarded The Mills Corporation exclusive
 negotiating rights for the development of nineteen (19) acres of waterfront
 piers on San Francisco Bay.  The winning project is a partnership of Mills and
 the YMCA of San Francisco for an extraordinary 900,00 square-foot mixed-use
 recreation venue on Piers 27-31 along the northeast waterfront, between Pier
 39 and the Bay Bridge.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010420/DCF009-a )
     The project will be a landmark showcase for The Mills, and will include:
 
      *  300,000 square feet of affordable YMCA recreation facilities open to
         the public.  Some of the feature activities include: rock climbing, an
         extreme skate park, two swimming pools and a wide-array of water and
         sailing activities
 
      *  150,000 square feet of recreational retail and dining
 
      *  200,00 square feet of Class A office space
 
     Among the project's unique features:
 
      *  The Mills/YMCA will open the San Francisco Bay to the city by
         incorporating a four-acre public plaza, and over 450,000 square feet
         of open space as well as Bay Steps leading to the water
 
      *  The YMCA facility will be the largest, most state-of-the-art
         recreation space of its kind in America
 
      *  Within the office space, 20,000 square feet will be earmarked for non-
         profit organizations in the area -- the largest private sector
         donation of non-profit office space in the City
 
     Laurence C. Siegel, The Mills Corporation's Chairman and CEO stated, "We
 are grateful to the Port Commission and people of San Francisco for this
 special opportunity to create a dynamic recreation-based project worthy of
 this spectacular Bayfront.  With our teammates at the YMCA, we look forward to
 a new bond and partnership with the City to create a place that reflects San
 Francisco's unique heritage, culture and energy."
     Mills and the YMCA submitted their plans for Piers 27-31 to the Port of
 San Francisco on December 5, 2000 in response to a request for proposal issued
 by the San Francisco Port Commission.  Now, Mills will enter a period of
 negotiations with the Port to move ahead on the project.  It is anticipated
 that The Piers will be open in 2004.
     Added Siegel, "For The Mills Corporation, this is an important step in the
 evolution of our company as a leader in the creation of next-generation out-
 of-home experiences.  We have long-held an affinity for the Bay Area, and The
 Piers is a terrific opportunity for us as a Company, to work, to innovate, and
 to plant community roots."
 
     The Mills Corporation is a self-managed real estate investment trust
 (REIT) based in Arlington, Va., that owns, develops, leases, manages and
 markets a portfolio of 12 market dominant retail and entertainment
 destinations (11 Mills and one Block) totaling approximately 17 million square
 feet in 10 states.  Arundel Mills, located in the Baltimore/Washington
 corridor, opened this November.  Currently the company has five projects under
 construction and/or development in the United States and one in Toronto,
 Canada.  The company's Internet address is http://www.millscorp.com .
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X41867571
 
 SOURCE  The Mills Corporation

RELATED LINKS

http://www.millscorp.com