Point Molate Naval Fuel Depot

KWIH launches Navale in Shanghai and Sierra in Nanjing, First batch of units fully subscribed on the first launch day

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星期一, 七月 18, 2022

The first batch of units nearly sold out on the first launch day, and more units of Sierra have subsequently been launched on the market.

Key Points: 
  • The first batch of units nearly sold out on the first launch day, and more units of Sierra have subsequently been launched on the market.
  • The project was unveiled in mid-June, and all units launched on the first day of sales have been subscribed, affirming to the market's confidence in the KWIH brand and the quality of its properties.
  • The project launched three residential blocks since June, in which almost all units were subscribed on the day of launch.
  • The Group will seize market opportunities to further launch units at projects in Eastern China that have commenced sales activities.

City of Richmond, CA Sells 270-Acre Parcel for $400

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星期六, 五月 28, 2022

RICHMOND, Calif., May 27, 2022 /PRNewswire/ -- On May 24, the Richmond city council voted to deny Winehaven Legacy, LLC, a special purpose entity of Irvine-based developer, Suncal, the right to develop the former Pointe Molate Naval Fuel Depot.  The deal would have added over $22.5 million to the general fund, ensured substantial environmental cleanup, rehabilitated the Winehaven Historic District, and expanded the beach park, while providing over 4,000 jobs. 

Key Points: 
  • The property will now be sold to the Guidiville Tribe for only $400 with no payment to the City's general fund.
  • The Navy deeded the original property to the City of Richmond with the understanding that Richmond would oversee its clean-up and would develop the area for beneficial use.
  • After years of effort by Upstream and the Tribe, the City refused to approve their project.
  • Winehaven was chosen, and struck a $45 million deal with Richmond, which the City of Richmond would split with Upstream and Guidiville.