• PuebloPlex Board Approves Reuse Plan for Colorado Depot

    PuebloPlex Board Approves Reuse Plan for Colorado Depot0

    The LRA for the Pueblo Chemical Depot last week approved a redevelopment plan for 15,850 surplus acres at the central Colorado site, paving the way for the Army to begin transferring property at the depot. PuebloPlex, the state agency established in 1994 to redevelop the facility, is aiming to receive about 5,400 acres in the next year. That tract sits in the center of the depot and contains 620 storage igloos and most of the rail lines, reported the Pueblo Chieftain. The LRA now splits the revenue it generates from leasing 255 of the igloos with the Army since it is leasing them under a master lease, said Russell DeSalvo III, the authority’s CEO and president …

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  • Army to Transfer Remaining Land at Ft. Monmouth in June

    Army to Transfer Remaining Land at Ft. Monmouth in June0

    The LRA for the former Fort Monmouth expects to obtain the last portion of the New Jersey property from the Army in June, according to the Fort Monmouth Economic Revitalization Authority (FMERA). The authority had expected to receive the property by the end of 2015, but the transfer was postponed due to “the Army’s slow response to FMERA’s requests regarding future expenses due to the cleanup of any additional environmental problems at the phase II footprint,” Chairman James Gorman told the Asbury Park Press. The Army earlier conveyed three parcels on the main post and the Charles Wood tract to the authority …

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  • D.C. Council Advances Measure OK’ing Walter Reed Redevelopment

    D.C. Council Advances Measure OK’ing Walter Reed Redevelopment0

    The D.C. Council on Tuesday took a preliminary step to approving legislation authorizing the District of Columbia to purchase a 66-acre portion of the former Walter Reed Army Medical Center and convert it into a mix of residential, office and retail space. A final council vote on the measure is expected March 1. The District will pay the Army $22.5 million and obtain the parcel through an economic development conveyance, under an agreement announced in November that does not include any revenue sharing. The city is expected to close on a deal with the site’s master developer — a joint venture of Hines Interests LP, Urban Atlantic and Triden — within the year …

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  • Business Leaders Offer Advice for Keeping Fort Monmouth Reuse on Track

    Business Leaders Offer Advice for Keeping Fort Monmouth Reuse on Track0

    To motorists passing by the former Fort Monmouth on the New Jersey Shore, it’s easy to get the impression that reuse efforts are going slowly, with little visible progress to see more than four years after the post closed. But the truth is that momentum has been building through the efforts of the Fort Monmouth Economic Revitalization Authority, and more concrete signs of redevelopment are just around the corner, according to the LRA. “We really see next year as being the turning point for the redevelopment of the fort,” said David Nuse, the LRA’s director of real estate development …

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  • Walter Reed Transfer Could Take Place Next Spring

    Walter Reed Transfer Could Take Place Next Spring0

    The District of Columbia could take possession of the former Walter Reed Army Medical Center as early as next spring, when the city and the Army are planning to close on the sale of the 66-acre portion of the property slated to be redeveloped into a mix of residential, office and retail space. The District will pay the Army $22.5 million and obtain the parcel through an economic development conveyance, under an agreement announced last week that does not include any revenue sharing, said Randall Clarke, the city’s LRA director. The first payment of $10 million will be due at closing and will come from the District’s coffers as well as the city’s master development team, said Jason Cross, LRA project manager. The balance will be due one year later …

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  • District Strikes Deals to Acquire, Lease Walter Reed Campus0

    The District of Columbia will pay the Army $22.5 million for 66 acres at the former Walter Reed Army Medical Center, according to an agreement Mayor Muriel Bowser submitted to the D.C. Council. The deal follows lengthy negotiations between the District and the Army, and paves the way for site work to begin at the site in northwest Washington, reported the Washington Business Journal. The reuse plan for the mixed-use project, the Parks at Walter Reed, calls for the construction of 3.1 million square feet of residential, office and retail space over two decades …

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