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Posts Tagged ‘local redevelopment authority’

LRA Closes on Deal to Acquire Ft. McPherson from Army, Sell Bulk to Filmmaker

  • June 28, 2015
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The Fort McPherson LRA on Friday approved the sale of about 330 acres of the 475-acre post to filmmaker Tyler Perry, before the authority closed on its agreement with the Army to acquire the post located on the southwest edge of Atlanta. The McPherson Implementing Local Redevelopment Authority now owns 145 acres at the installation free and clear and will begin crafting a redevelopment plan for the property. The authority’s plans include walkable, mixed-use development connected to two MARTA stations, a vibrant historic village, mixed-use retail development supporting Perry’s film studios, office or medical office space, and market rate multifamily developments …

Construction at Former Walter Reed to Break Ground Late Next Year

  • June 28, 2015
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The joint venture converting the former Walter Reed Army Medical Center in northwest Washington, D.C., into a mix of housing and commercial development plans to break ground on the project’s first phase before the end of 2016. Plans for the 66-acre Parks at Walter Reed call for 250,000 square feet of retail, 2,000 housing units, a Hyatt hotel and conference center, and an “innovation core” of offices anchored by George Washington University, MIT and bioscience firms. The D.C. City Council could approve the transfer of the land from the Army late this year and simultaneously approve a 99-year ground lease to the joint venture of Hines Interests and Urban Atlantic …

City Approves $500M Plan to Transform Alameda Point

  • June 22, 2015
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The Alameda City Council last week approved plans to revitalize a 68-acre portion of the former Naval Air Station Alameda, Calif., into a mixed-use project featuring 800 homes and 600,000 square feet of retail and commercial space. Approval of the $500 million plan from Alameda Point Partners — which also calls for 15 acres of parks and open space, and possibly a new ferry terminal — comes after the city decided to direct the project itself following two failed efforts led by master developers over the past decade. The development team includes commercial builder srmErnst, retail company Madison Marquette, residential developer Thompson Dorfman Partners and nonprofit Eden Housing …

Ft. McPherson Sale to Filmmaker to Close Shortly

  • June 17, 2015
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The LRA for the former Fort McPherson is expected to close on the sale of 330 acres, about two-thirds of the 475-acre post located on the southwest edge of Atlanta, to filmmaker Tyler Perry for $30 million by the end of the month, reported the Wall Street Journal. The McPherson Implementing Local Redevelopment Authority plans to acquire the installation from the Army for $26 million. The property has been appraised for as much as $75 million. Perry, best known as the creator of the “Madea” film franchise, would purchase the property for $30 million to build up to 16 sound stages for a movie and television production complex. The redevelopment authority will retain more than 144 acres that it intends to remake into a mix of shops, offices, apartments and open space …

Google Considers Moving into Hunters Point

  • June 16, 2015
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Google is in the early stages of talks with Lennar Urban about leasing or acquiring space at the former Hunters Point Naval Shipyard in San Francisco. So far, the redevelopment’s plans for up to 10,500 residential units have received the lion’s share of attention about the project, but the Shipyard campus is slated to accommodate 800,000 square feet of office space by 2018 and an additional 2 million square feet by 2021, reports the Silicon Valley Business Journal. The Shipyard’s timeline for delivering office space could be favorable for Google as its subsidiary YouTube is facing the end of its current lease in 2018 …

Town Rejects Devens Rezoning Plan

  • June 16, 2015
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Voters in the town of Harvard, Mass., last week turned down a proposal by MassDevelopment to rezone a portion of Devens to lure a biotech company to the site 35 miles west of downtown Boston. Zoning changes at the former Fort Devens require approval from Harvard and the installation’s other two host communities, Ayer and Shirley. Only Harvard voters rejected the state development agency’s proposal to rezone a residential area on the western side of Devens to allow industrial and commercial uses. Harvard residents were concerned about the potential for a factory to create noise problems after a nearby manufacturing facility built by Evergreen Solar prompted similar complaints …

Hunters Point Bears Fruit after Decades of Battle over Contamination

  • June 12, 2015
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As new homeowners move into the first 88 units of new housing at the former Hunters Point Naval Shipyard this spring and summer, officials from the Navy, the city of San Francisco and master developer Lennar Urban could be excused if they breathe a sigh of relief while looking back at the hurdles that were overcome to reach this point. “It really is the culmination of many, many years of thinking about what to do and many fights over what to do, so it’s huge that we have new residents in those units,” Olson Lee, director of the mayor’s office of Housing and Community Development, told the San Francisco Chronicle. “Yes, it’s a former Superfund site. Yes, there were toxics on the site, but the city has followed all federal and state protocols that are part of the base conversion process to make sure all the new housing is safe …

Treasure Island Project Poised to Move ahead following Property Transfer

  • June 4, 2015
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Infrastructure development at Treasure Island could begin by 2016 with the first residential units going up the next year, following the Navy’s transfer last week of 290 acres at its former base in San Francisco Bay to the city of San Francisco. “This is a huge milestone … and a culmination of many years of work,” said Robert Beck, director of the Treasure Island Development Authority. The 290 acres encompass half of Treasure Island as well as adjoining Yerba Buena Island. The remaining 200 acres will be handed over in five subsequent transfers over the next seven years, Beck told the Examiner. The Navy will receive $55 million over the next 10 years for the land …

Opening of Interstate to Spur Activity at Chaffee Crossing

  • June 1, 2015
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The executive director of the Fort Chaffee Redevelopment Authority is eagerly awaiting the opening of a 6.5-mile stretch of Interstate 49 through the base reuse project now called Chaffee Crossing. “That news is out there and people know it’s going to happen,” Ivy Owen told the Times Record. “The people who have been waiting and holding back to make offers are now coming out of the woodwork to make offers on smaller, specialized pieces of property like medical clinics and physician’s offices, that sort of thing,” he said. The highway opening, scheduled for July, should generate new property sales and trigger development at parcels already sold at the site located just over the Arkansas border from Oklahoma …

Weapons Station Neighbors await Master Developer Decision

  • May 31, 2015
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Concord residents played a significant role in crafting a reuse plan for the former Concord Naval Weapons Station and with the city close to selecting a master developer for the East Bay site in northern California, homeowners group are confident the most important elements of the plan will be realized over the coming decades. The plan allows for building up to 12,272 housing units and 6.1 million square feet of commercial space on about 2,300 acres, with about 70 percent of the weapons station preserved as parkland or open space. The plan also calls for a greenway buffer separating the new homes from existing neighborhoods, a key priority of homeowners groups. Clustering high-density housing near the North Concord/Martinez BART transit station will help ensure the project meets its open space goals …

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