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Concord Naval Weapons Station Update – September 20, 2023

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moon rising over the concord naval weapons station
Moon rising over the CNWS by Peter Maclennan

According to multiple media sources, the Concord City Council unanimously passed a resolution to an exclusive agreement to negotiate with the chosen master developer for the Concord Naval Weapons Station (CNWS) on Tuesday evening. Brookfield Properties was selected as the master developer.

From KTVU.com:

The Concord City Council has unanimously selected Brookfield Properties as master developer for the former Concord Naval Weapons Station project.

Concord enters exclusive negotiation to develop former naval weapons station – KTVU.com

Exclusive Agreement to Negotiate

According to Claycord.com –

The EAN allows for a 120-day initial negotiating period, to allow Brookfield to prepare and propose a term sheet to the city.
The agreement also specifies a 24-month period for the developer to complete a specific plan, environmental impact report, and a disposition and development agreement, all of which must be approved by the city.

Concord City Council Agrees To Exclusively Negotiate With New Naval Weapons Station Developer

This is the third time the City has attempted to strike an agreement with a master developer over the CNWS. The previous two agreements ended when the chosen developer and the City of Concord could not come to agreement on terms in a timely manner.

Selection of Third New Master Developer

Back in August, the City Council chose Brookfield as the master developer after Housing America Partners withdrew from consideration.

KPIX.com – Concord selects developer for former naval weapons station site – CBS San Francisco (cbsnews.com)

The selection was made just after a report was released by the Contra Costa Civil Grand Jury on the City Council’s handling of the CNWS. The report titled: Concord Naval Weapons Station Grand Jury Report A Promise Unfulfilled can be found online here.

The City and Local Reuse Authority response to the Grand Jury Report is available online as well.

Details of the Redevelopment of Concord Naval Weapons Station

The redevelopment of the Concord Naval Weapons Station (NWS Concord) is one of the largest and most ambitious redevelopment projects in the Bay Area. The 2,300-acre Inland Area of the former base is being transformed into a master-planned community with up to 13,000 homes, millions of square feet of commercial space, and hundreds of acres of parks and open space.

The redevelopment project is being led by Brookfield Properties, and it is expected to be completed over the next several decades.

The redevelopment of NWS Concord is expected to have a significant impact on the Concord community. The project is expected to create thousands of new jobs and generate millions of dollars in economic activity. It is also expected to help alleviate the region’s housing shortage and provide much-needed affordable housing options.

Here are some of the key benefits of the redevelopment of NWS Concord:

  • New housing: The project will create up to 13,000 new homes, including a significant amount of affordable housing.
  • Economic development: The project is expected to create thousands of new jobs and generate millions of dollars in economic activity.
  • Parks and open space: The project will include hundreds of acres of parks and open space, providing residents with places to recreate and enjoy the outdoors.
  • Improved transportation: The project will improve transportation infrastructure in the area, making it easier for residents to get around.
  • Sustainable development: The project is being developed with a focus on sustainability, and it will include features such as energy-efficient buildings and green spaces.

The redevelopment of NWS Concord is a major undertaking, but it has the potential to transform the Concord community and create a vibrant new neighborhood.

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and ensure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach Peter Maclennan please call 925.385.8798 or email at peter@maclennaninvestments.com.

Dana Estates Real Estate Market Update Video

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Video Length 1:17

July Real Estate Market Update for Dana Estates

Did you know that Dana Estates’ real estate market is booming? In the last three months, homes in our neighborhood have been selling for 108% of their list price on average. That’s right – sellers are seeing an impressive 8% above their listing price!

But wait, there’s more. Our neighborhood has seen a wide range of list prices, from $650,000 to $828,000, with the average hovering around $739,000. And when it comes to sale prices, we’ve seen some jaw-dropping numbers. The highest sale price reached an incredible $890,000, with a sale to list price ratio of 110%. Even the lowest sale price came in at $725,000, which was 107% of its listing price.

So, what does all this mean? It means our market is thriving, and now is the perfect time to jump in. Whether you’re looking to buy or sell, Dana Estates is offering impressive sale prices, high sale to list price ratios, and competitive price per square foot rates.

Don’t miss out on this opportunity! If you’re thinking of buying or selling in Dana Estates, now is the time. Reach out to us for more information, real estate tips, or to schedule a viewing of a home on the market.

We’re here to help you make the most of this bustling market. Follow us for more updates and let’s seize this moment together. Happy house hunting!

Contact Peter

May 2023 Events in Concord California

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As we head into the month of May, Concord, California is abuzz with a variety of exciting events that you won’t want to miss! From outdoor festivals to live music performances, there is something for everyone to enjoy in this bustling city. Here are some of the top events happening in Concord this May:

  • Bay Area SpringFest 2023 is a free event celebrating spring with music, food, plants, art, kids’ activities, beer & wine in downtown Concord. This year will include a beer and wine garden.
  • Concord Farmers Market is a weekly farmers market that takes place every Saturday from 9am to 1pm at Todos Santos Plaza. There will be fresh produce, flowers, crafts, and more.
  • Geeks Who Drink Trivia is a weekly trivia night that takes place every Thursday at 6:30pm at Epidemic Ales. Teams of up to six people can compete for prizes.
  • Spring Tea in the Galindo Home is a traditional English tea service that takes place on Saturday, May 14th from 2pm to 4pm at the Galindo Home. Tickets are $25 per person.
  • Bike to Work Day – May 18th is the Bay Area’s annual Bike to Work Day. Enjoy meeting other cyclists and pick up free goodies at various Energizer Stations along your route.
  • Colors of Spring at Concord Historical Society is an exhibit that features artwork inspired by the beauty of spring. The exhibit runs from May 1st to May 31st at the Concord Historical Society.
  • Colors of Spring Art Show and Sales is an art show and sale that features the work of local artists. The show takes place on Saturday, May 14th from 10am to 4pm at the Concord Community Center.
  • Matchbox Twenty Concert is May 21st at the Concord Pavillion. For all of us who came of age in the late 90’s and early 2000’s a night of nostalgia is in store.
  • Bay Area KidFest is a three-day festival for families on Saturday, May 27th, Sunday, May 28th, and Memorial Day, May 29th at Todos Santos Plaza. There will be rides, games, food, music, and entertainment for kids of all ages.

These are just a few of the many events happening in Concord in May 2023. To see additional events you can go to www.VisitConcord.com/events.

Here for your Concord real estate needs!

Peter

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and ensure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach Peter Maclennan please call 925.385.8798 or email at peter@maclennaninvestments.com.

Regional Park on CNWS Receives Funding

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The Martinez Tribune is reporting that the East Bay Regional Park District is receiving $3 million in state appropriations to begin construction of a staging area for the new Thurgood Marshall Regional Park on the former Concord Naval Weapons Station (CNWS).

“The new staging area, along with a planned visitor center, will help connect the public with the park’s important human history and the natural history and outdoor recreational opportunities of the land,” added Lane. “Establishing public access to Thurgood Marshall Regional Park is a major priority for the Park District.”

Martinez Tribune

The Park’s Name Origin

The Thurgood Marshall Regional Park was named in honor of NAACP civil rights attorney and former U.S. Supreme Court Justice, Thurgood Marshall. Marshall helped to defend the 50 black sailors accused of mutiny after the Port Chicago Naval Magazine blast in July of 1944.

The Park

The park will encompass over 2,687 acres of land on the former CNWS. It will stretch along the hills from Willow Pass Road, south past Bailey Road.

Map of Thurgood Marshall Regional Park
Thurgood Marshall Regional Park from (www.ebparks.org)

Be Prepared

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Emergency preparedness has never been more relevant than now. On September 1, the City of Concord will be hosting an Emergency Preparedness Fair at Todos Santos Plaza in Concord from 5pm to 8pm. Come along to be equipped with important skills such as using a fire extinguisher and shutting off your utilities and more!

While at the fair, enjoy the farmers’ market which begins at 4:00pm and music by local bands, The New Frantics and Garageland Rodeo from 6:30-8:00pm.

Homeowners Out-Earned Job Holders in 2021

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Home appreciation outpaced income in much of the US.

One of the sharpest and best reads around is from Jay Voorhees @ JVM Lending. Earlier this week he wrote this:

Owning A House Was More Profitable Than Having A Job Last Year

A few weeks ago, I blogged about the reluctance of sellers to list their properties in the face of so much uncertainty.

But – there is another reason sellers are hanging on to their homes according to various macro pundits.

And that reason is massive appreciation.

According to this Motley Fool column, homeowners made more from appreciation last year on average than the average U.S. worker made from his job.

https://www.jvmlending.com/blog/why-higher-rates-could-save-the-housing-market/

According to the Motley Fool post, the average home appreciated by $52,667 in 2021. Meanwhile the average salary in 2021 was $50,000.

Here in Concord, California the average price from December of 2020 to 2021 increased from $754,553 to $884,716 according to the Contra Costa Association of Realtors®. That increase of 17.3% amounts to a $130,000 growth in net worth. This is above the median household income of $92,706 from the U.S. Census Bureau.

This is one of the reasons that owning your own high quality real estate (like a home in Dana Estates) is one of the best investments you can make.

If you are curious about the value of your home, you can use this link to get your home value.

Peter Maclennan
Real Estate Broker | Maclennan Investment Group, Inc.
DRE #01801793
925-385-8798

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