From Dive to Live
Firm attorneys hit the right note, when the developer for San Francisco's Fillmore Heritage Center needed help negotiating a set of complex acquisition, financing, construction and leasing agreements.
Wendel Rosen’s client, a Bay Area real estate developer, was selected to develop a major mixed-use complex, the cornerstone of a plan to revitalize San Francisco’s historic Fillmore district. With five different lenders financing the project, the client sought Wendel Rosen’s expertise to navigate through competing interests and priorities, and to negotiate and draft the intricate financial structures needed to make the project, the Fillmore Heritage Center, a reality.
The Wendel Edge
Wendel Rosen's attorneys served as legal counsel to the developer over the course of 18 months of complex negotiations. Firm attorneys worked with public agencies, lenders and contractors, applying Wendel Rosen’s extensive experience in collaborating with the relevant regulatory bodies and other stakeholders. The team drafted Innovative financial structures, leases and other real estate documents and secured approvals to allow the project to obtain financing from a diverse roster of lenders, including the San Francisco Redevelopment Agency, San Francisco Mayor’s Office of Community Development, a union pension fund, and several private financial institutions.
The $80-million Fillmore Heritage Center secured the necessary financing and approvals and opened to rave reviews in late 2007. The 240,000-square-foot development has transformed a previously neglected corner into a vibrant hub, drawing on the neighborhood’s identity as the City’s historic jazz district. Yoshi’s, a premier national and international jazz club, calls the space home. The development also houses the Jazz Heritage Center, restaurants and 80 units of mixed-income, high-quality condominium housing. Following its opening, the Fillmore Heritage Center was named the “Best Mixed-Use Project” of the year by the San Francisco Business Times.