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Visa-for-investment program funnels $77 million into Hunters Point, $96 million more sought

San Francisco Business Times
November 13, 2013

Overseas investors in Lennar Urban's massive redevelopment of the former Hunters Point Shipyard — most of them Chinese nationals tapping a pay-to-play immigration program — over six months pumped $77 million into the project. The eye-popping results from the first two tranches of funds raised from December to May by a politically well-connected entity called Golden Gate Global offer a tangible sign of Asian investors' interest the Bay Area. What's more, said Ginny Fang, the center's CEO, the reaction undergirds a third fund of $96 million that the center hopes to close by the end of February.