The Real Deal New York

Chinese investors bet on the ’burbs

Despite fears about China’s outbound capital limits, investors are cashing in on Westchester

January 06, 2017 08:41AM
By Tobias Salinger

Left to right: Arthur Collins, Collins Enterprises; Ning Yuan, Strategic Capital; Yi Lui, Consulate General of China; Dwight Collins, Collins Enterprises; and Yonkers Mayor Mike Spano at the groundbreaking of the Hudson Park River Club.

From the special Westchester issue: Strategic Capital could have spent its money anywhere. But executives at the firm, the American arm of a Chinese state-owned company, bet on Yonkers — investing in a partially completed waterfront site.

The company — the real estate investment arm of China Construction America, one of the world’s biggest construction and real estate giants — will invest $270 million over three years on the once-stalled 16-acre mixed-use development called Hudson Park, which sits between the Hudson River and the Yonkers Metro-North station. A 213-unit residential tower slated to open in early 2018 will be the final touch on the project.[more]

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