Brookfield Properties plans to develop the 2,300 acres of former Naval Weapons Station in 5 phases
By City of Concord
At a special meeting on Aug. 26, the LRA received a presentation from Brookfield about their plan to develop 2,300 acres of the former Concord Naval Weapons Station.
Following Council questions and public comment, the LRA voted unanimously to select the global real estate developer for this project.
With an office in San Ramon, and part of New York-based developer and real estate conglomerate Brookfield Partners, the developer agreed to a variety of requests including designating at least 25% of the housing as affordable and hiring 40% of its construction workforce from within the county. They propose a multi-phase approach beginning with connecting the community to the nearby BART station within the first phase of construction,
The next steps include outlining the terms of an Exclusive Negotiating Agreement (ENA) and a “term sheet”, a document that establishes procedures and standards for the negotiation of a comprehensive proposed Disposition and Development Agreement and drafting a Specific Plan for the property.
Previously, the council had selected Lennar in 2020 and Seeno’s Concord First Partners in 2022 as master developers.
The city council acting as the LRA is expected to consider the ENA at a meeting tentatively scheduled for Sept. 19.
A recording of the Aug. 26 meeting and supporting documents can be found online.
Allen D. Payton contributed to this report.