|From:||Lenny Siegel <firstname.lastname@example.org>|
|Date:||Sat, 7 Jul 2012 10:26:50 -0700 (PDT)|
|Subject:||[CPEO-MEF] REUSE; China may fund Hunters Point and Treasure Island (CA) projects|
China in Talks With U.S. Home Builder State Bank in Talks to Provide
Lennar $1.7 Billion for Two Long-Stalled Projects
By DINNY MCMAHON and ROBBIE WHELAN Wall Street Journal June 25, 2012Lennar Corp., LEN +0.98% one of the U.S.'s largest home builders, is in talks with the China Development Bank for approximately $1.7 billion in capital to jump-start two long-delayed San Francisco projects that would transform two former naval bases into large-scale housing developments, according to people familiar with the discussions.
The negotiations aren't final and the financing arrangement could still fall through. But if completed, the deal would reflect a changing dynamic between the U.S. and Chinese economies, as an American company turns to China for help funding a long-delayed and partially publicly funded project that otherwise wouldn't get done.
Chinese state money is in talks with the U.S's largest home builder to provide $1.7 billion to kick-start two housing projects in the U.S. The WSJ's Isabella Steger talks with reporter Dinny McMahon about the potential deal.
The developments, Treasure Island and Hunters Point Shipyard, also have the potential to alter San Francisco's housing market by providing nearly 20,000 new homes, a sports arena and millions of square feet of office and retail space in a market that is land- constrained and has had limited new construction. The city has committed hundreds of millions of dollars, in the form of tax- increment bonds, to the projects, which in total are expected to cost $10.5 billion over the next few decades.
... For the entire artticle, seehttp://online.wsj.com/article/ SB10001424052702304458604577489062449154168.html?KEYWORDS=Lennar+Bay +Area
-- Lenny Siegel Executive Director, Center for Public Environmental Oversight a project of the Pacific Studies Center 278-A Hope Street, Mountain View, CA 94041 Voice: 650-961-8918 or 650-969-1545 Fax: 650-961-8918 <email@example.com> http://www.cpeo.org _______________________________________________ Military mailing list Military@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/military-cpeo.org
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