A big redevelopment project in the heart of Shaw has a new investor—the Chinese.

After spending a week in China selling the merits of investing in D.C., Mayor Vince Gray today formally announced that a group of Chinese investors are putting $40 million into the CityMarket at O development at Seventh and O Streets NW.

The $260 million project, which broke ground in 2010, will include a new Giant supermarket, 16,000 square feet of retail space and 628 residential units, including 86 set aside for seniors.

The investment was made under the federal EB-5 program, which allows foreign investors to qualify for U.S. visas if they make $1 million investments in specific businesses or projects. The project also has to create or preserve 10 full-time jobs.

This isn’t the only big project in the city that has attracted foreign capital—the massive CityCenter development near Chinatown is being funded in part by the Qatari government. Gray has also expressed interest in having the Chinese help fund a $1.5 billion, 22-mile portion of the city’s planned streetcar network.