I don't think this will really affect whether or not Waterview will be built, but Fremont looks like its going under:
"In other corporate news, Fremont General Corp. said it is planning to sell its residential real estate business and about $2.9 billion in subprime residential mortgages at a loss. The moves will effectively shut down the company, which rose $1.73, or 25 percent, to $8.78."
http://biz.yahoo.com/ap/070416/wall_street.html?.v=24