Cal-Bay Announces Development Plans for Luxury Condominiums on Company's Downtown San Franciso, California, Property.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) announces plans for the development of 12 luxury condominiums on the company's downtown property. Cal-Bay's Board of Directors today announced the company has initiated the process for the planning and development of 12 luxury condominiums on the company-owned 9th street property in downtown San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] . The development is expected to yield over $10.5M upon completion which should add over $4M to the company's bottom line within the next 12 months. The property is located in one of San Francisco's premium downtown redevelopment areas within blocks of the new ballpark. Cal-Bay purchased the San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden property earlier this year for $2.65M. Newly constructed adjacent condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. properties are currently being marketed in the range of $1400 per square foot. Forward-Looking Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. The Company assumes no obligation to update any of the forward-looking statements in this release. |
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