clock menu more-arrow no yes

Filed under:

China Bank Rescues Projects

New, 1 comment

The loan committee of the China Development Bank has approved a $1.7 billion loan to help finance housing projects at Hunters Point Shipyard and Treasure Island. With the loan, the first 1,400 homes of Lennar's Hunters Point project could be under construction as quickly as early next year, with Treasure Island about a year behind, and the deal stipulates that the China Railway Construction Co. will be the general contractor (though both project agreements require that the projects be built with local union labor). [SF Business Times/previously on Curbed SF]