Cornerstone Properties Inc. (NYSE: CPP), a real estate investment trust, and William Wilson & Associates, a fully integrated real estate company, announced that the Wilson development team has been chosen by the Port Commission of San Francisco for the historic Ferry Building rehabilitation project.

Wilson was selected from among four competing development proposals.

Wilson will rehabilitate the Ferry Building's exterior and create significant public space within the building. Central to the physical redevelopment of the interior will be the restoration of the original Nave that extends the entire 660 foot length of the building and reaches from the arcade to the trussed roof, creating a naturally lit atrium and exposing much of the original architecture.

The ground floor of the building will be developed as a high quality market hall featuring the best of San Francisco's restaurants, food producers and purveyors. The upper floors will comprise the Port Commission offices and premium-quality general office space.

Constructed in 1898, the Ferry Building is a Historical Landmark designed in the neo-classical Beaux-Arts style. The building's signature clock tower anchors the San Francisco Waterfront directly across from the city's financial district. As a major Bay Area transportation hub, more than 10,000 commuters travel each day to the Ferry Building location from surrounding North and East Bay communities.