The Springs, a large-scale mixed-use project has officially commenced construction. Developed by Tishman Speyer Properties of USA with local partner Shanghai Chengtou, the project is located in New Jiangwan Town in northeast Shanghai's Yangpu District. According to reports, the plot was acquired three years ago. The entire development occupies a land area of more than 267,000 sq m, with a total developable space of more than 900,000 sq m.
     The first phase of the project, comprising approximately 900 residential apartments and retail space, is scheduled for completion by 2014. Construction of the second phase would begin in 2012. Upon full completion, The Springs would become one of the largest urban complexes in China. The project involves an estimated total investment of approximately US$2.5 billion.