[CPEO-MEF] REUSE: China Development Bank funds Lennar at San Francisco Navy bases

[Lenny Siegel <lsiegel@cpeo.org>]

China Development Bank approves $1.7B loan for Hunters Point,  
Treasure Island San Francisco Business Times

by J.K. Dineen
San Francisco Business Times (CA)
December 11, 2012

The loan committee of the China Development Bank has approved a $1.7  
billion loan to build new neighborhoods and upward of 20,000 units of  
housing on the Hunters Point Shipyard, Candlestick Point and Treasure  
Island.

The agreement, confirmed by sources familiar with the negotiations,  
is a crucial step in longstanding plans to build new neighborhoods on  
the two mothballed San Francisco military facilities, which represent  
San Francisco's largest development opportunities.

The loan will provide $1 billion for Hunters Point Shipyard, where  
the first 1,400 homes could be under construction by the first  
quarter of next year. Treasure Island, which is at least a year  
behind the Hunters Point project, will get $700 million.

...

For the entire article, see
http://www.bizjournals.com/sanfrancisco/blog/2012/12/china- 
development-bank-approves-17b.html

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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