The mortgage lender's decision comes on the heels of the discovery of major accounting errors and the Office of Federal Housing Enterprise Oversight's direction for Fannie Mae to enhance its capital reserves.
In its heyday, the Waterfront Mall was a 1.1-million-sf office and retail complex that had served as home to the Environmental Protection Agency. The developers plan to reinvent the property by converting it into a mixed-use mecca with two million sf of office space, 400,000 sf of residential space, and 75,000 sf of retail offerings. Plans for the project will still move forward.
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