Navy, City of Concord Agree on Transfer of Former Naval Weapons Station
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Navy, City of Concord Agree on Transfer of Former Naval Weapons Station
The City of Concord Local Reuse Authority (LRA) has reached a financial agreement with the U.S. Navy over the price and terms of payment for the approximately 2,422 acres of property at the former Concord Naval Weapons Station. The long-planned redevelopment of the site, with a final cost estimated at $6 billion, will be led by master developer Brookfield. Under the agreement, the Navy will receive approximately $628 million over a 30-year build…
Concord City Council To Review Financial Agreement With The U.S. Navy For The Reuse Project At The Former Concord Naval Weapons Station
The City of Concord Local Reuse Authority has reached a financial agreement with the United States Navy regarding the purchase and payment terms for approximately 2,422 acres at the former Concord Naval Weapons Station, which is slated for redevelopment as part of the Concord Community Reuse Project under an Economic Development Conveyance. The agreement is backed by the project’s master developer, Brookfield Properties. The Local Reuse Authorit…
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