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| parkingcarma.com |
China Harbour Engineering Co. Ltd. – a subsidiary of a global Fortune 500 company, China Communications Construction Co., with an office in San Ramon – is the favorite to beat a development group called West Oakland Partners LLC to revive the 5.5-acre BART property. BART's board of directors will vote Thursday to give one of the developers a one-year window to negotiate terms with the agency.
A committee of BART staffers and Oakland city employees favored China Harbour Engineering's plans to build an office building "that would draw on the maritime and logistics office market, which would value proximity to the Port of Oakland operations," according to the recommendation document. The site is now home to two parking lots divided by the BART right of way, and spreads across an area from Fifth Street to Seventh Street between Chester Street and Mandela Parkway.
China Harbour Engineering has financial power on its side, the committee highlighted. The company, which couldn't be reached for comment, is the second-largest dredger in the world. It pulled in nearly $2 billion in revenue in 2010, according to China Daily. It's undertaken $10 billion worth of projects around the world.
More @ SF Business Times
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