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