Toledo, Ohio's local economy is ailing, but two developers recruited from China see significant opportunity in redeveloping the city's waterfront.
The two investors, Yuan Xiaohona and Wu Kin Hung, say they intend "to build a new riverfront residential, office, retail and entertainment district," according to reporter Keith Schneider.
Ms. Yuan and Mr. Wu say they intend the development "to serve as a kind of staging area for international executives to conduct business in the Midwest, a lively urban neighborhood for their spouses and children, and a destination for shopping and dining for residents of the Toledo region."
If their investments are as extensive as planned, they could represent one of the largest real estate investments by Chinese developers in the U.S.
Read the full story: Infusion From China for Toledo, Ohio
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