Gov. Brown Announces Oakland Waterfront Development Deal With China Investor

BEIJING (KCBS) — Gov. Jerry Brown has unveiled a $1.5 billion investment partnership between an Oakland-based developer and a China-based investor which will create 10,000 jobs in the state, according to the governor’s press office.

Gov. Brown was joined by U.S. Ambassador to China Gary Locke, as well as Chinese dignitaries in Beijing Wednesday to announce the development deal in which the city of Oakland stands to benefit greatly.

From the deal, Oakland will see the creation of 3,100 units, 200,000 square feet of retail and commercial space as well as 30 acres of parks and open space. Ground breaking for the project is expected to begin in 2014.

The Brooklyn Basin investment deal between China’s Zarsion Holdings Co. Ltd. and Signature Development Group will “dramatically improve Oakland’s waterfront” according to Gov. Brown.

Brown had supported Zarsion Holdings during his tenure as Oakland’s mayor, although a press release issued by Brown’s office credited Oakland’s current Mayor Jean Quan as being instrumental in connecting the investors and developers involved.

On Wednesday, Brown also signed symbolic agreements on boosting trade between California and China and helping the world’s most populous nation improve its air quality.

On Thursday, Brown will highlight California’s interest in infrastructure projects by traveling from Beijing to Shanghai on China’s high-speed rail system, which is the longest in the world.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

  • China pollution may hold silver lining for California – Los Angeles Times | Money News Watch

    […] as the nation's economy has boomed over …Assignment China: Beijing notebookNews10.netGov. Brown Announces Oakland Waterfront Development Deal With China …CBS LocalGov. Brown signs trade, investment agreement with ChinaSan Francisco Chronicle […]

  • Chinese Financing For Major SF Housing Developments Falls Through « CBS San Francisco

    […] on his China trip this week, announcing that a Chinese investor has agreed to foot the bill for a $1.5 billion dollar development project in Oakland near Jack London […]

  • Phil Matier: Oakland Mayor’s Budget Calls For More Police On Streets « CBS San Francisco

    […] we’ve had have been pretty positive. There’s big money coming in with the aid of some Chinese investors to the city’s waterfront and Jack London Square. Retail and revenue are up, so they are bringing in money to the […]

blog comments powered by Disqus
Guide To The Holidays
Shine A Light On The Holiday Season With ‘Giving Tuesday’

Listen Live