$6 Billion Master Planned Development Moving Forward in the East Bay
"Three real estate companies are competing to be the developer of a massive former naval base in Concord that will be one of the largest projects in the Bay Area with over 12,000 units of housing and over six million square feet of new commercial property planned," reports Roland Li. "Building out the project will involve an estimated $6 billion in construction spending."
The Concord City Council is expected to make a choice between Catellus Development Corp., Lennar Urban, and SunCal in April. In addition to the scope of the project, the project is also notable for its location on the former Concord Naval Weapons Station. According to Li, "the station closed in 2005 amid federal government cutbacks. Concord adopted a reuse and area plan by 2012, and the city will take ownership of around 1,400 acres on the property by 2016. The East Bay Regional Park District will control another 2,700 acres devoted to parkland."
The article goes on to detail the proposed plans of each of the three developers.
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