Catellus selects Ira Yellin to head Southern California Development Activities.SAN FRANCISCO--(BUSINESS WIRE)--Feb. 5, 1996--Catellus Development Corporation (NYSE NYSE See: New York Stock Exchange :CDX) today announced that Ira Yellin has joined the Company as a Senior Vice President to lead its Southern California development activities. In making the announcement, Nelson C. Rising, President and Chief Executive Officer said: "The addition of Ira Yellin is an important step in our effort to build a management team that can maximize the value of our assets and generate recurring earnings. We have major holdings in Southern California and the Company has been pursuing numerous new development activities. Ira will provide the leadership, experience and vision needed to maximize the value of these opportunities." Yellin is highly regarded in the Los Angeles development community. He is well known for the restoration and redevelopment of many of the city's historic structures, including the National Historic Landmark A National Historic Landmark (NHL) is a building, district, site, structure, or object, almost always within the United States, officially recognized by the United States government for its historical significance. Bradbury Building and the Grand Central Market. He successfully negotiated the first joint development agreement with the Metropolitan Transportation Agency and the Community Redevelopment Agency as the primary financing mechanism for his visionary Grand Central Square project. Catellus is one of the largest land owners in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or with its 50 acre Los Angeles Union Station project and its 10 acre site near the proposed Little Tokyo transit station. In addition, the Company has an exclusive right to negotiate with the Metropolitan Transportation Agency for the development of the Agency's property at Wilshire/Alvarado. Other Catellus projects in Southern California include the Pacific Design Center in West Hollywood and significant development parcels in Orange County. Catellus has recently formed an Alliance with the Los Angeles Dodgers "Dodgers" and "Brooklyn Dodgers" redirect here. For the American football team, see Brooklyn Dodgers (football). For the Eastern Basketball Association team, see Brooklyn Dodgers (basketball). to study the feasibility of an NFL stadium on the 300 acre Dodger property adjacent to downtown Los Angeles. In addition to his other responsibilities, Yellin will have day-to-day responsibility for this project. Yellin, 55, graduated from Princeton University and Harvard Law School Harvard Law School (colloquially, Harvard Law or HLS) is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, Harvard Law is considered one of the most prestigious law schools in the United States. . He practiced law for eight years and was Executive Vice President and General Counsel for The Hapsmith Company, a real estate investment company, prior to forming The Yellin Company. Yellin has been active in civic affairs throughout his career. He served on the Steering Committee for the downtown Los Angeles Strategic Plan, is a member of the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of the California Institute of the Arts California Institute of the Arts known as CalArts U.S. private institution of higher learning in Valencia. Created in 1961 through the merger of two other art institutes, it was the first in the U.S. , the Board of Governors of the California Community Foundation The California Community Foundation, located in Los Angeles, California serves all of Los Angeles County and is the United States' second-oldest community foundation. It has assets of over $1 billion and makes grants for several different charitable purposes. . Catellus Development Corporation, headquartered in San Francisco, is an owner, developer and manager of real estate assets which had a current value, as of Dec. 31, 1994, of $1.8 billion. CONTACT: Catellus Development Corporation Steve Wallace, 415/974-4666 |
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