Big Developments Back On Track in California

Developer FivePoint Communities has cleared hurdles, and the financing flowing again for two major California projects, one on San Francisco's Treasure Island and one at the El Toro Marine Corps Air Station near Irvine.

Reporter Teresa Burney talks with Emile Haddad, CEO of FivePoint Communities, about the challenges of operating in today's economy. In the article, Haddad says, "We will be in the position of being the only private developer who can deliver finished home sites there when the market comes back."

Burney writes that FivePoint's major projects are getting financing and planning approvals in order to proceed:

"Last July approvals for 11,000 home sites and three million square feet of commercial were filed for Hunters Point /Candlestick Park, and a settlement with the Sierra Club was worked out in January; a settlement is being worked on with another group as well, Haddad said."

Full Story: FivePoint Communities Plans Ambitious Developments for California

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