• Navy Transfers Long Beach Complex Property to City0

    Officials from the Navy and the Maritime Administration, along with state and local leaders, this week celebrated the transfer of 125 acres at the former Long Beach Naval Complex in California to the city of Long Beach to develop as a port facility. The conveyance raises the total amount of land transferred to the city to more than 400 acres. The Port of Long Beach plans to use the property for staging containerized cargo. Long-term plans include developing marine container facilities, including storage yards, loading and unloading facilities, and other related services. Navy and Long Beach officials first worked out a lease agreement for the city’s Harbor Department to take control of the 500-acre complex on Terminal Island in 1998, allowing the port to break ground on a new container terminal …

  • County to Guarantee Ft. Monmouth Bond Issuance

    County to Guarantee Ft. Monmouth Bond Issuance0

    Monmouth County’s Board of Freeholders last week voted to guarantee $35 million in notes and bonds the Fort Monmouth Economic Revitalization Authority (FMERA) needs to purchase 560 acres at the former post located on the northern New Jersey coast from the Army. The guarantee will allow the LRA to take advantage of Monmouth County’s triple A rating and obtain the lowest possible interest rate on the bond issuance, reported the Asbury Park Press. FMERA will repay bondholders through sales of property on the main post, which the county estimates has a market value exceeding $90 million. The sale — which will provide FMERA 560 acres on the main post outright for $33 million — represents the second transfer of property between the Army and the LRA …

  • City Shows off Plans for First Phase of Alameda Point Redevelopment

    City Shows off Plans for First Phase of Alameda Point Redevelopment0

    The city of Alameda hosted residents at an event last month to show off plans for a major component of Alameda Point and to celebrate the most recent property transfer from the Navy at the former Naval Air Station Alameda. The 2.5-mile walking tour focused on the city’s plan to redevelop the area surrounding Seaplane Lagoon, which calls for several large parks, a 500-acre federal wildlife habitat, housing, retail and a ferry building. Site A is slated to have 800 homes, including some reserved for low-to-middle-income residents, and 600,000 square feet of commercial and retail space …