Ten to 15 years after they closed, why aren’t the more-than-half-dozen former military bases in the San Francisco Bay region successful new developments already?
The reasons really aren’t all that surprising, and start with the recession and its impact on the housing market and the health of individual developers, according to a story this week in the San Francisco Chronicle. Other factors include the presence of heavy contamination and changes in political control.
Of course, no one ever went out of business betting that a base reuse project would take decades to come to fruition, rather than years. In fact, the story points to the reuse of the former Concord Naval Weapons Station as being on the right track, but notes that the project’s reuse plan still is years away from being realized.