Located in the original chocolate factories, this luxury residence club will offer extraordinary views of the San Francisco Bay and Alcatraz Island as well as an intimate European plaza feel. Fairmont Heritage Place will begin marketing and sales efforts next summer with the residence club homes scheduled to open in mid-2007.

"This is a unique opportunity for Fairmont to create what we believe will be the preeminent urban private residence club. This is an excellent strategic choice for our company, a strong fit for our brand and an important milestone in the growth of our Fairmont Heritage Place collection," said William R. Fatt, Fairmont's Chief Executive Officer. "We are excited about our new relationship with JMA, and hope that this project will be the first of many development opportunities with our new partner."

"Fairmont Heritage Place's strategy is to be the definitive location in each of its destinations with a luxury residence club product that is both contemporary and local. Ghirardelli Square, with its historic significance and spectacular location, represents the quintessential Fairmont Heritage Place," commented Greg Doman, Fairmont's Vice President, Fairmont Heritage Place. "We believe the high caliber and outstanding location of this development will set new standards for urban private residence clubs."

"Our goal was to seek a partner that would provide a premium hospitality brand identity and a top-quality product commensurate with our vision for a revitalized Ghirardelli Square," said Todd Chapman of JMA. "Ghirardelli is a very special place -- a beloved and historic San Francisco icon, a uniquely intimate physical space, and one of the most beautiful locations in the city.