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Hunter's Point, Treasure Island Deals Fall Apart

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[Rendering via Lennar]

Speaking of billion dollar developments, the $1.7 billion financial deal to develop 12,500 homes in the Hunter's Point neighborhood and thousands more on Treasure Island has fallen apart. The problem reportedly stemmed from control issues between Chinese-based Chinese Development Corp. and Lennar Corp., the lead American-based developer of both areas. Lennar still plans to move forward with the construction of at least 200 homes at the Hunter's Point Shipyard. Construction is expected to commence this year, and there are currently no details as to how this failed deal will affect the remainder of both the Hunter's Point and Treasure Island development projects. -Michael Conrad
· Chinese Deals for Hunter's Point, Treasure Island Collapse [SFGate]
· Brooklyn Basin Finds Funding [Curbed SF]