San Francisco’s struggling downtown mall could get a second life as a major sports destination. The San Francisco Standard and San Francisco Chronicle report that Urban Land Development and TMG Partners have submitted a bid to transform the shuttered San Francisco Centre into a multilevel complex featuring six basketball courts, eight volleyball courts, retail, dining and a sports-focused high school. The proposal follows the collapse of an earlier deal to buy the 1.2-million-square-foot property. After its former owners defaulted on their debt, the mall was foreclosed on by lenders, while prospective buyers Presidio Bay Ventures and Prado Group later withdrew from their purchase agreement. CBRE subsequently returned the property to the market and received multiple bids before the latest bidding window closed, with the bondholder owners expected to choose a buyer in the coming weeks.
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