Carl Kuehner, president and CEO of Building and Land Technology,tells GlobeSt.com that the $200 million is "existing debt" for someof the vertical construction on the site--the hotel, apartmentbuilding and two office buildings. Building and Land Technology isanticipating to deliver the first building by August of 2009 and tobegin leasing up the space over the next few weeks.

As previously reported by GlobeSt.com, the project is slatedat $3 billion and bring various facilities into the city's SouthEnd district. Harbor Point is slated to have 11 acres of parks, a485-slip marina, various office space, 400,000 sf of retail, 4,000new residential units and two hotels. The project has also beenselected by the US Green Building Council for its LEED NeighborhoodDevelopment program. The project is broken into four phases andanticipates it taking ten years with staggered openings. The hoteland residential pieces will begin later this year and the officespace has already begun construction with steel coming around Oct.1, 2008.

Building and Land Technology is a real estate developmentcompany headquartered in nearby Norwalk, CT. Lubert-Adler is a realestate private equity firm specializing in redevelopments throughjoint ventures with local operating partners.