In a turning point for the city of Concord, the Local Reuse Authority (LRA) has chosen Brookfield Properties as their preferred master developer for the Base Reuse Project at the former Concord Naval Weapons Station. According to a statement released by the City of Concord, the council members voted unanimously on Saturday, to designate Brookfield Properties for this exciting project.
The Concord City Council, sitting as the Local Reuse Authority, on Aug. 26 voted unanimously to select Brookfield Properties as the preferred master developer for Concord’s Base Reuse Project. Learn more: https://t.co/q9GocnTa5o pic.twitter.com/DPZ1vvrPQt
— City of Concord CA (@CA_Concord) August 26, 2023
Once a bustling naval station, the 2,300-acre site has been awaiting redevelopment since the Navy abandoned it in 1999, as reported by NBC Bay Area. The ambitious plan for the area includes the construction of 13,000 units of housing and millions of square feet of commercial space. About half of the total site is also set to become a new park in the East Bay Regional Park District named Thurgood Marshall Regional Park.
During a special meeting session on Saturday, Brookfield Properties made a compelling presentation outlining their vision for transforming the abandoned naval base. Originally, the council was scheduled to interview two potential developers, Brookfield Properties and Housing America Partners; however, Housing America withdrew its application earlier this month.
This marks the third attempt by Concord City Council to secure a master developer for the highly anticipated redevelopment project. The previous deal with Lennar FivePoint fell through in March 2020 when the developer was unable to reach agreements with local labor unions, which was one of the city's conditions. Later, Concord First Partners, owned by Seeno, saw their term sheet rejected in January, following widespread public criticism of their requested amendments to the agreement.
As we move forward in this long-awaited process, the next steps involve outlining the terms of an Exclusive Negotiating Agreement (ENA) and drafting a Specific Plan and Term Sheet for the property. The LRA is expected to consider the ENA at a meeting tentatively scheduled for September 19.
