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Posts Tagged ‘property disposal’

Lennar to Build Town Center at Ft. Monmouth

  • September 22, 2015
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Lennar Corp. has agreed to purchase 51 acres at the former Fort Monmouth for $15.2 million to build a new town center for Tinton Falls, N.J. The project would be one of the largest developments to date at the site on New Jersey’s Atlantic coast, reported Word on the Shore. The Fort Monmouth Economic Revitalization Authority approved the purchase and sale agreement last week. Lennar will build about 243 residential units — including town homes, stacked town homes and/or apartments — 45 single-family detached homes, and 58,000 square feet of retail and other non-residential uses …

Closed Base for Sale in Maryland

  • September 7, 2015
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PenMar Development Corp., the state-designated redevelopment authority that had been planning to redevelop the former Fort Ritchie on its own, has decided to find a buyer for the 591-acre central Maryland property located just over the Pennsylvania border. The LRA’s decision to seek a developer to take over the site represents a sharp turn from the authority’s stance two years ago after it endorsed a study concluding it should serve as the post’s master developer. In the spring of 2014, PenMar hired a project manager to craft a master plan but the effort ended when the individual left later that year. “We found that way of going about it was not working,” said Dori Nipps, the LRA’s executive director …

Atlanta May Need to Help Finance Sale of Ft. McPherson

  • April 22, 2015
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The Atlanta City Council this week approved extending a $13 million line of credit to the Fort McPherson LRA, allowing the purchase of 330 acres of the post by filmmaker Tyler Perry to go ahead. Mayor Kasim Reed requested the line of credit as a backstop in the event the McPherson Implementing Local Redevelopment Authority is unable to pay the Army the $26 million it is asking for the 488-acre installation. Reed told the council it needed to act with urgency …

Army Completes Disposal of Kansas Ammo Plant through Auction

  • April 7, 2015
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A New York investment firm last week completed the purchase of a 10-acre parcel at the former Kansas Army Ammunition Plant after submitting the winning bid in an auction conducted by the General Services Administration. Cornwall Specialty Trading purchased the tract, which contains the plant’s former 67,000-square-foot administration building, for $282,777. The transaction marks the completion of the Army’s disposal of the 14,000-acre facility in southeastern Kansas that was shuttered following the 2005 BRAC round. The Great Plains Development Authority is the major property owner with 7,000 acres. The facility’s munitions manufacturer, Day & Zimmermann, purchased 4,000 acres to continue operations at the plant. Production, however, has been shut down, Ann Charles, assistant director of the authority, told 360. The Kansas Department of Wildlife, Parks and Tourism holds the title to the remaining 3,000 acres. Charles said the authority will help Cornwall market its parcel as part of its efforts to market the Great Plains Industrial Park. The LRA also will provide caretaker services for the investment firm’s parcel.

Navy Reaches Penultimate Step in Horsham Environmental Review Process

  • March 22, 2015
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A final environmental impact statement (EIS), which favors the local redevelopment authority’s reuse plan, has been issued by the Navy …

Concord Residents Learn about Competing Proposals for Naval Weapons Station

  • February 12, 2015
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The three firms competing to become the master developer for the former Concord Naval Weapons Station in northern California this week presented their visions for converting the base to a new community with housing, shopping, offices and parks. Concord Mayor Tim Grayson stressed the need to integrate the new development with existing neighborhoods, reported the San Jose Mercury News. The Concord Reuse Project Area Plan, which the city adopted in 2012, calls for building up to 12,272 housing units and 6.1 million square feet of commercial space on about 2,300 acres near the North Concord/Martinez BART station, with about 70 percent of the site preserved as parkland or open space …

Ft. McPherson-Tyler Perry Sale Back on Track

  • December 10, 2014
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The Fort McPherson LRA’s plan to sell about two-thirds of the former post to filmmaker Tyler Perry is on again, after the authority on Tuesday replaced a board member and approved a resolution outlining the boundaries of the 330-acre tract Perry would purchase. The McPherson Implementing Local Redevelopment Authority’s action means Perry would obtain the post’s historic parade ground, officers’ quarters and a golf course for his planned movie and television production complex. The LRA would hold onto the remaining 144 acres, which follows the northern and eastern perimeters of the installation located on the southwest edge of Atlanta …

Treasure Island Developers Ready to Move Ahead following Court Decision

  • October 26, 2014
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The team of developers planning to turn Treasure Island into a $1.5 billion residential and commercial neighborhood is eager to press on after the state Supreme Court last week dismissed an appeal of the environmental reviews conducted for the reuse project by the city of San Francisco. Citizens for a Sustainable Treasure Island filed a lawsuit claiming the city’s environmental study was inadequate because it lacked details about building design and failed to specify plans to clean up the site located in San Francisco Bay, reported the San Francisco Chronicle. But after an appeals court affirmed a lower court ruling in July upholding the studies, the state’s high court on Wednesday rejected the group’s request to review the decision …

Judge Dismisses Lawsuit against Ft. McPherson Sale

  • October 8, 2014
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A federal judge on Tuesday dismissed a lawsuit from an Atlanta entertainment company seeking to block the sale of 330 acres at the former Fort McPherson to filmmaker Tyler Perry, ruling it was too early for the court to hear the case. Ubiquitous Entertainment Studios claimed it had met with the McPherson Implementing Local Redevelopment Authority about purchasing 80 acres for a movie studio entertainment complex in 2011 — before the city of Atlanta entered discussions with Perry — but was told officials couldn’t negotiate until the Army transferred the property. The suit, filed in July, accuses the authority of violating its bylaws when it offered the property to Perry outside of a public competition …

Ft. Monmouth Sparks Heightened Interest from Residential, Retail Developers

  • September 23, 2014
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Competition among residential and retail developers for space at the former Fort Monmouth has been growing recently as central New Jersey’s real estate market heats up. “As every day goes by, the market is getting stronger in those areas,” Les Smith, senior director at Cushman & Wakefield, told the New York Times. “If you come up with a good development site, they want it,” said Smith, whose firm is the real estate broker for the Fort Monmouth Economic Revitalization Authority …

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