San Francisco Business Times
From the article:
A deal in which China Development Corp. had agreed to invest $1.7 billion to help bankroll over 12,500 homes on Treasure Island and Hunters Point is dead.
The collapse comes more than three months after the developer Lennar Corp. said that the loan committee of the China Development Corp. had agreed to provide funds for the two massive housing projects — and barely a day after a $1.5 billion Chinese investment was unveiled in Oakland's Oak to Ninth project
San Francisco Mayor Ed Lee was in China last week and said before he went that he hoped to be “celebrating” rather than negotiating.
Sources close to the deal said that in the end, the Chinese government asked for more control over the project than Lennar was able to agree to.
The setback comes as Chinese companies have stepped in to invest in two other large Bay Area developments.