Lennar Corp., 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 Wall
St Journal reports.
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.
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…
Find out more at http://online.wsj.com/article/SB10001424052702304458604577489062449154168.html?mod=WSJ_hp_mostpop_read
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