The 5M Project
SAN Francisco, CALIFORNIA
August 2015 – December 2017
Century | Urban acted as the strategic economic, development and real estate advisor to The Hearst Corporation (“Hearst”) on the mixed-use development project known as The 5M Project (“5M”). The proposed project is an arts and community-oriented mixed-use district framed by Mission, Fifth and Howard streets that includes two residential buildings, an office building and public open spaces. The privately-funded development includes the retention or renovation of three historic buildings, including the San Francisco Chronicle Building, as well as the donation of the Dempster Printing Building to nonprofit arts uses. Century | Urban provided economic analysis, real estate underwriting and review of strategic alternatives to Hearst with regard to retaining ownership of assets that include the existing Chronicle and Examiner buildings, which will continue to serve as the home of the San Francisco Chronicle newspaper operations. In addition, Century | Urban provided strategic support to Hearst in retaining ownership rights to a planned, 400-unit condominium building on the Chronicle and Examiner property.
Source: Hearst Corporation