Concord Opts to Reopen Negotiations with Lennar

first_imgThe Concord City Council last week voted to reopen negotiations with Lennar Urban in an attempt to strike a better deal before deciding whether to select the firm as its master developer for the first phase of the redevelopment of the former Concord Naval Weapons Station in northern California.If the city achieves concessions from Lennar on a number of issues, the council could vote on the contract May 3, reported East Bay Times. Lennar remains the only candidate in the competition after Catellus Development Corp. pulled out due to its loss of trust in the city’s selection process.The talks between the city and Lennar will cover funding for affordable housing, the scope of infrastructure construction and improvements to a heavily traveled bridge. The council rejected Lennar’s proposal to use binding arbitration and to grant it the right to develop future phases of the project.Lennar Urban President Kofi Bonner indicated he is willing to accept most of the city’s changes to its proposed term sheet, according to the story.City staff also will look into the feasibility of Concord acting as its own master developer or forming a joint powers authority to lead the conversion of the weapons station into a series of neighborhood villages if the city fails to reach a compromise with Lennar.“This is a once-in-a-lifetime, unparalleled opportunity to deliver a world-class development and to generate revenue for the city,” said Councilman Dan Helix. “We must, and I expect will, get 100 percent of what is available for us or chalk up this process to experience and start over,” he said.The reuse plan for the 5,046-acre weapons station site calls for building up to 12,272 housing units and 6.1 million square feet of commercial space clustered around the North Concord BART station with greenways and parks separating neighborhood villages. Almost 70 percent of the property would be open space and recreational facilities. Dan Cohen AUTHORlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *