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SAN FRANCISCO-The owner of the historic Ghirardelli Square has unveiled a revitalization plan incorporating new high-end retail tenants, dining, other new offerings and a timeshare property called the Fairmont Heritage Place. JMA Ventures LLC, owner of the square, says that the new tenants are expected to be in place by the spring of 2008 in time for the opening of the Fairmont Heritage Place.

Todd Chapman, a principal of JMA, says that the plan is designed to create an “urban enclave” at the square, in part through the opening of the Fairmont. The Heritage Place will offer ownership interests in 53 of its units, which will feature two- and three-bedroom floor plans that will range from 1,400 sf to 1,900 sf.

Some new retail shops have already opened at the square, while others that are slated to open soon include a specialty food market called Marché on the Square, O’Neill’s Irish Pub and an indoor family club called Peekadoodle Kidsclub. Others to be added include a yet-to-be-announced fine dining restaurant and a 10,000-sf spa.

Fairmont Heritage Place is a development of Fairmont Hotel & Resorts. Fairmont Hotels in turn is owned by Fairmont Raffles Hotels International Inc., a global company with more than 120 hotels in 25 countries under the Raffles, Fairmont and Swissôtel brands.

Ghirardelli Square dates back to the mid-1800s, when it served as the original site of the Ghirardelli family’s chocolate, cocoa, mustard and box factories, and it has been on the National Historic Register since 1982. Today, it is a popular destination for San Francisco visitors and Bay Area residents, offering shopping, waterfront dining, art galleries and family events.

JMA Ventures is a development and investment firm with interests in residential and commercial projects. It is the general partner for in excess of $800 million of real estate investments across the western US.

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