Roland Li | San Francisco Business Times
The Concord City Council has selected Lennar Urban and Catellus Development Corp. as the two finalists to redevelop the city’s former naval base into up to 12,000 units of housing and over six million square feet of commercial space, though developers may choose to build less than that.
The development promises to be one of the largest real estate projects in the Bay Area. Building out the project will involve an estimated $6 billion in construction spending.
The City Council’s decision on Tuesday night came after an advisory board recommended Lennar and Catellus as the finalists.
“Catellus is very excited to be selected as one of the top two candidates to serve as master developer for the Concord Naval Weapons Station,” said Steve Buster, vice president of Catellus. “This is an incredible opportunity and we believe our successful track record in public-private partnerships will serve this project well. We are looking forward to the next steps in the selection process.”
“We are excited about the opportunity to work collaboratively with Concord, just as we’ve done in San Francisco and elsewhere, in developing a world-class plan for the Navy property,” said Kofi Bonner, president of Lennar Urban.
“We have gained a lot of experience and know-how through our work on The Shipyard, Treasure Island, Mare Island and the El Toro Marine Corps Air Station in Irvine,” he said. “That experience will be extremely helpful as we now work through the details of a development plan with the city of Concord and the U.S. Navy.” Read more