Development on the Buckley Annex at the former Lowry AFB in Denver is slated to begin this fall with demolition work. The reuse plan for the 70-acre site, closed following BRAC 2005, calls for 800 residences, up to 200,000 square feet of commercial office and retail space, and a 4.5-acre community park …
The first phase of land transfers at the former Fort Monmouth, N.J., is scheduled to be completed within one year, according to the memorandum of agreement reached between the Army and the Fort Monmouth Economic Revitalization Authority …
The Navy last week transferred 992 acres at the former Naval Station Roosevelt Roads to the commonwealth of Puerto Rico via an economic development conveyance. The EDC agreement, reached in December, calls for the Navy to convey a total of 1,370 acres at the 8,700-acre base. In exchange, the commonwealth will pay the Navy $8 million along with 40 percent …
Next week the Navy plans to transfer about 1,000 acres at the former Naval Station Roosevelt Roads to the commonwealth of Puerto Rico, jumpstarting the property’s conversion into an eco-tourist and commercial destination. The scheduled transfer follows the EDC agreement the two parties signed last month for 1,370 acres at the 8,700-acre base located on the eastern tip of Puerto Rico …
The Fort Monmouth Economic Revitalization Authority approved on Dec. 21 the economic development conveyance agreement it had negotiated with the Army, paving the way for much of the New Jersey installation’s 1,126 acres to pass into private hands over the next 18 months. Under the agreement, the authority will hand over 50 percent of the proceeds from the sale or lease of property to the Army …
The Navy last week completed the closing and initial property transfer of about 680 acres at the former Naval Air Station South Weymouth, Mass., to the South Shore Tri-Town Development Corp. through an economic development conveyance. LNR Property LLC will be responsible for the estimated $25 million cost of the conveyance; about half of the compensation relies on revenue sharing …
There were few surprises in the final rule the Pentagon issued Wednesday implementing the changes Congress approved two years ago to incorporate flexibility in the process of negotiating economic development conveyances in a bid to accelerate redevelopment at BRAC installations. The rule, published in the Nov. 16 Federal Register, varies from the language of the Dec. 17, 2010, proposed rule in only a few instances …
Massachusetts officials confirmed that the South Shore Tri-Town Development Corp. and the Navy would sign a purchase and sales agreement Tuesday for a 700-acre tract at the former Naval Air Station South Weymouth. The LRA reached an agreement with the Navy in August to purchase the property for an estimated $25 million, with about half the compensation relying on revenue sharing …
An agreement on the transfer of the former Fort Monmouth to the property’s LRA could be reached next month, according to Executive Director Bruce Steadman. The Army and the LRA have been close to an agreement for several months, though, so it is possible the latest target may have to be pushed back …
Town councilors in Weymouth, Mass., are asking why the LRA for the former South Weymouth Naval Air Station has agreed to pay the Navy an estimated $25 million for a 700-acre EDC when the city of Alameda will be obtaining a 900-acre EDC at no cost at the former Naval Air Station Alameda. “If it’s good enough for Alameda, it should be good enough for us …