A Chinese bank is in talks with one of America’s largest housing company Lennar Homes to help restore the Bay Area.
The American Housing company has entered into discussions with the China Development Bank to borrow $1.7 billion in capital to begin rejuvenating two former Naval bases.
The Two projects include Treasure Island, and Hunters Point Shipyard. Also included in the deal would be a new sports arena and several million square feet of office, and retail in the Bay Area.
The project which will also include public funding, is not official but if the two sides get what they want this project will rejuvinate an area of San Francisco Bay that has long been in need.
Recently the Chinese have been involved in funding many infrastructure projects globally. In doing so the Chinese are building up a power grid that will soon put them on a level of Global superiority challenging the United States.
Most of the Chinese Infrastructure investments have been in Asia, Africa, and South America up until now. Most of those projects were dams, airports, railways, highways and sports arenas according to WSJ.
The current projects to rejuvenate the two islands, will breed life back into the once prominent areas of the Bay Area that help connect the East Bay with the San Francisco Peninsula in the Middle of the Bay Bridge.
Treasure Island which is connected to Yerba Buena Island is a man-made conduit. The island formerly held the 1939 GGIE Worlds Fair, and once was the major hub for exporting US Service members to the Pacific during WWII.