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Extra Extra: Hearst Co. May Overtake Chron Building

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A new playmate on the way for Mint Plaza? The Hearst Corp. may pounce on the San Francisco Chronicle building at Fifth and Mission, and the 23 parcels of Chron turf stretching 4 acres south and west of corporate H.Q.. Stephen Hearst, vice president and general manager of San Francisco Realties, is "reasonably confident" of a sale; the developer's bids should arrive by mid-November, after which mass destruction construction will surely ensue. The property was assessed at $28.14m earlier this year. Backed by the recent explosion of new development in the area, however, its market value has passed go and collected well over $200. Today's Chron article only hints at possibilities to come: Senior marketing director Henry Ford expressed the want for a "renovated or new first-class, state-of-the art facility" for the paper. Even more speculation-inducing are potential plans for the smattering of parking lots and low-lying buildings that occupy the property. Planners, take a deep breath and hold.
· Hearst to consider offers for Chronicle building, other S.F. sites [SF Gate]