Forest City Bows Out
This past Friday, we heard that Forest City Enterprises is phasing out contracted-fee consulting and master planning projects. (We snapped its CEO David LaRue with ICSC chair Mike Kercheval last month). Forest City's Jeff Linton confirmed the Cleveland-based developer has dropped out as master developer at Atlanta's Fort McPherson and The Gulch. This puts into question the fate of both projects (JVs with Cousins Properties and The Integral Group), or at the very least who will helm them. The Ft. McPherson development authority's Jack Sprott couldn't say whether the authority will approach one of the runners-up for the assignment, such as Carter.