SAN FRANCISCO—Mayor Ed Lee is said to be close to finalizing a deal with an international development team that would bring $1.7 billion in residential development to Hunters Point and Treasure Island.
Representatives of The China Development Corporation met with the mayor and other officials here recently in advance of Lee's overseas trip that could see him inking the deal in China, according to the San Francisco Chronicle.
"We're trying very hard to time it so that my arrival is for a celebration rather than more negotiations," Lee told the paper last week.
China Development Corp., the Chinese national railway and Lennar Corp., make up the development partners who have proposed 12,500 homes on the Hunters Point Shipyard and numerous high-rises on Treasure Island.
Hunters Point is located on the prominent peninsula along San Francisco's southeastern waterfront between the City's Financial District and San Francisco International Airport. Treasure Island is an artificial island located on the Bay Bridge, and is within San Francisco city limits.
Click San Francisco Chronicle to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
