San Franciscos Ghirardelli Square Undergoes Revitalization

Historic Waterfront Location to Be Transformed With Fairmont Heritage Place Fractional Homes, High-End Retail, Fine Dining, Artisanal Foods, Wine Shops, Spa and More

SAN FRANCISCO--()--JMA Ventures, LLC (JMA), owners of San Franciscos historic Ghirardelli Square, has announced that the revitalization of the Square into an urban enclave combining its historic detail with an array of new tenants and the highly anticipated Fairmont Heritage Place, Ghirardelli Square, is underway. Ghirardelli Square is set to emerge from the transformation in spring 2008 in conjunction with occupancy of the private residence club homes at Fairmont Heritage Place, Ghirardelli Square, an integral part of the overall revitalization of the landmark Square.

Ghirardelli Square is a very special place -- a beloved and historic San Francisco icon, a uniquely intimate physical space, and one of the most beautiful locations in the city, said Todd Chapman, a principal of JMA. Our vision for renewing Ghirardelli Square carefully preserves these wonderful attributes while creating a reenergized enclave that will benefit both the immediate neighborhood and the entire city of San Francisco.

Fairmont Heritage Place, Ghirardelli Square, represents one of the citys most distinctive and exciting new options for luxury living, inextricably linked with San Franciscos rich and colorful history. Offering 1/10th ownership interests of just 53 residences, this is a limited once in a lifetime opportunity to own a piece of a San Francisco icon. Owners will luxuriate in the magnificent views of the bay and enjoy living in a historic waterfront location that has been transformed into an urban oasis.

Artfully blending historic ambience with modern luxury, the Fairmont Heritage Place homes offer expansive two- and three-bedroom floor plans that range from 1,400 to 1,900 square feet, large living spaces with up to 12-foot ceilings, modern kitchens with Sub-Zero appliances, plasma televisions, in-home fireplaces and exposed brick and timber finishes. The large bedrooms feature spacious closets, plasma screen televisions and patio access with unobstructed views of the bay, Alcatraz Island and the Marin County headlands.

This is a unique opportunity for Fairmont to create what we believe will be the preeminent urban private residence club, commented Greg Doman, Fairmonts Vice President, Fairmont Heritage Place. Ghirardelli Square, with its historic significance and spectacular location, represents the quintessential Fairmont Heritage Place. We believe the high caliber and outstanding location of this development will set new standards for urban private residence clubs.

The unique and intimate physical space of Ghirardelli Square includes an exciting mix of high-end retail, fine dining, artisanal foods, art galleries, spa facilities and much more, while the sites premier location will serve as an ideal home base from which to enjoy San Francisco and Northern Californias many attractions.

New shops at Ghirardelli Square that residents and locals alike will enjoy include recently opened Karas Cupcakes, a San Francisco based purveyor of organic cupcakes; Cellar 360, a wine and food experience brought to the Square in part by COPIA; and Lolas of North Beach, a high-end papery store offering personalized stationery, handmade cards and unique gift items. Soon to open retailers include Marché on the Square, a specialty food market that includes a wine bar brasserie; ONeills Irish Pub; Peekadoodle Kidsclub, the Bay Areas first premium, full-service, indoor family club; as well as a yet-to-be-announced fine dining restaurant; and 10,000 square foot spa.

Steeped in the history of San Francisco, Ghirardelli Square dates back to the mid-1800s, when it served as the original site of the Ghirardelli family's chocolate, cocoa, mustard and box factories. Today, it is a popular destination for San Francisco visitors and Bay Area residents, offering shopping, waterfront dining, art galleries, family events and more. One of the first successful mixed-use redevelopment projects in the United States, Ghirardelli Square has been a San Francisco landmark for more than 100 years. To ensure its preservation, Ghirardelli Square was granted National Historic Register status in 1982.

The Fairmont name also factors significantly in the citys history. Since 1907, the landmark Fairmont San Francisco hotel has hosted American presidents, beginning with William Howard Taft, hosted the drafting of the United Nations Charter in 1945, and provided the stage where Tony Bennett first sang I Left My Heart in San Francisco.

Today Ghirardelli Square is a familiar sight in San Francisco; the red brick building with its trademark sign is an irreplaceable part of the local fabric since its inception as a working chocolate factory in the late 1800s. Coated in tradition and history, Ghirardelli Square is one of San Francisco's most treasured landmarks.

About Fairmont Heritage Place: Fairmont Heritage Place is an exclusive private residence club collection offering vacation home ownership in some of the worlds most sought after locations. Fairmont Heritage Place Acapulco, its first residence club, opened in September 2004. Located next to The Fairmont Acapulco Princess resort, this residence project is already in its third phase. Fairmont Heritage Place also manages the Fairmont Heritage Place Franz Klammer Lodge in Telluride, Colorado and planning is underway for Fairmont Heritage Place Barbados. Future development is being planned at select Fairmont resort locations, as well as potential joint ventures with third party developers in other locations. For additional information, please visit: www.fairmontheritageplace.com.

About Fairmont Hotel & Resorts: A leader in the global hospitality industry, Fairmont Hotels & Resorts is an extraordinary collection of luxury hotels that truly reflect the essence of their destination. Featuring iconic landmarks like The Fairmont San Francisco, The Fairmont Banff Springs, and London's Savoy, Fairmont hotels are more than a place to stay; they are one-of-a-kind properties where sophisticated travelers can discover storied life experiences. Situated in some of the most exclusive and pristine areas in the world, Fairmont locations provide access to activities that are culturally rich and authentically local. From inviting beaches and tranquil spas to challenging golf courses and exhilarating ski hills, guests can fulfill their lifelong desires at Fairmont. With an enduring connection to the land and communities where we do business, Fairmont is also committed to responsible tourism and is an industry leader in sustainable hotel management with its award-winning Green Partnership program. With 51 distinctive hotels in 12 countries, and more than 20 properties currently in development, Fairmont is committed to growing its portfolio of world-class hotels and plans to add properties in coveted international destinations like Cairo, Shanghai, Dubai, and Beijing over the next few years.

Fairmont is owned by Fairmont Raffles Hotels International, Inc., a leading global hotel company with over 120 hotels in 25 countries worldwide under the Raffles, Fairmont and Swissôtel brands. The company also owns Fairmont Heritage Place and Fairmont Residences, offering luxury vacation ownership and residential properties. For more information or reservations, please call 1-800-441-1414 or visit www.fairmont.com.

About JMA Ventures: JMA Ventures (JMA) is a full service San Francisco based real estate investment firm with in-house acquisition, development, finance, leasing and management capabilities. The company has compiled a 20-year track record of successful projects, both residential and commercial, combining investment and development expertise with a commitment to the highest quality of design, luxury, materials and workmanship. JMA currently serves as general partner for in excess of $800 million of real estate investments across the western United States. For more information, please visit www.jmaventuresllc.com.

Contacts

Glodow Nead Communications
Amie Rubenstein, 415-394-6500
Jenny Randall, 415-394-6500
jenny@glodownead.com

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Contacts

Glodow Nead Communications
Amie Rubenstein, 415-394-6500
Jenny Randall, 415-394-6500
jenny@glodownead.com