Friday, April 12, 2013

California and Oakland doing business with China

Presenting the developer with a "shovel ready" project is what Pacifica is doing with the Beach Boulevard project.  Seems like a great idea!

San Francisco Chronicle/Matthai Kuruvila, 4/11/13.  "Brown unveils Oakland waterfront deal."

A China-based investor has agreed to help pay for a $1.5 billion development in Oakland to transform 65 acres of industrial waterfront adjacent to Jack London Square to a district of shops, parkland and homes featuring high-rises that will reshape the city's skyline.

A rendering of a redevelopment project, called Brooklyn Basin, of 65 acres of property on the Oakland Estuary. Photo: -, Oakland Harbor Partners
 Oakland Estuary,  harbor side,  area called Brooklyn Basin
A rendering of a redevelopment of 65 acres of waterfront property on the Oakland Estuary of San Francisco Bay, near Jack London Square. The project, called Brooklyn Basin, will consist of 3,100 residential units, approximately 200,000 square feet of retail and commercial space, and a marina with up to 200 boat slips. More than 30 acres have been set aside for waterfront parks and open space. Photo: -, Signature Development Group
Brooklyn Basin land side, near Jack London Square
The Brooklyn Basin deal, announced Wednesday by Gov. Jerry Brown in Beijing during his trade mission, will create 10,000 short- and long-term jobs, 3,100 housing units, 200,000 square feet of retail and commercial space, and 30 acres of parks that include wetlands restoration.

The project, described by city officials as "shovel ready," already has city approval and a certified environmental impact report, and groundbreaking is expected next year.  Plans began 12 years ago when Brown was Oakland's mayor, but stalled because of lack of financing.

Brown credited Oakland Mayor Jean Quan as being "instrumental" in connecting the China-based investor, Zarsion Holding Group, with the Oakland-based developer of the property, Signature Development Group. Read article.  Note:  Photographic renderings from the article (right from Oakland Harbor Partners, left from Signature Development Group).

Related - Governor Jerry Brown in China -  Huffington Post/San Francisco, 4/10/13,  "..  He also signed symbolic agreements on boosting trade between California and China and helping the world's most populous nation improve its air quality, "  Videos:  Signing the agreement in Beijing, Reuters video, 33 seconds.  Riding the bullet train from Beijing to Shanghai, Los Angeles Times 4/11/13, video, 59 seconds.  At a party in Shanghai, Sacramento Bee 4/12/13 video, 45 seconds.

Posted by Kathy Meeh


Anonymous said...

Don't hold your breath China pulled out of financing the Lennar projects in the city.

Anonymous said...

That was in San Francisco, and a different financing company from China.

Anonymous said...

Yeah so the Chinese are transforming 65 acres of Oakland waterfront. Big deal! The Martians are going to transform the OWWTP on Beach Blvd. and they aren't using shovels. You just wait and see!

Anonymous said...

"Australia’s announcement that it is abandoning the U.S. dollar for trade with China is the latest broadside in the global currency war. Starting April 10, Australia and China will no longer use the U.S. dollar for trade between the two nations. For the first time, Australian businesses will be able to conduct trade in Chinese yuan. No more need for U.S. dollar intermediation"

Kathy Meeh said...

Duh, 8:52 AM,, here's the translation to that statement:

"The Australian dollar is set to become only the third currency to trade directly with the Chinese yuan -- a move that will help internationalize China's currency and smooth transactions between the major trading partners." CNN Money, 4/8/13. Got it now? Its a good thing.

Anonymous said...

Golly! Maybe our City Council will plan a junket to China to inquire if any of the noveau-rich will invest in our little town. Hell, maybe they'll just buy the whole town and we can all retire with suitcases full of cash!

Anonymous said...

Just like the casino trip?

Anonymous said...

Or the great america trip.

Anonymous said...

Since they came back from the casino trip, I guess they didn't win. And, since they came back, neither did we. They should get the travel and nutty expenses out of the way now while all the apologists and rationalizers are on duty.

Anonymous said...


Does Linda Mar Safeway and Denny's take the Yuan yet?

big banker but not a chinese banker said...

Chinese lenders are not the easiest to deal with. Plus they always want a piece of the equity pie. Plus they are known to change rate and terms at the very end.

Anonymous said...

haha well the Chinese sure didn't event those business habits