• Filmmaker’s Offer Prompts SouthField Developer to Renovate Navy Hangar0

    In a reversal of plans, LStar Management, which assumed control of the redevelopment of the former South Weymouth Naval Air Station in May, has decided to renovate an old Navy hangar for filmmakers after it was approached by a company interested in using the space to make a movie. Instead of demolishing the 33,000-square-foot hangar as part of its plan for turning the Boston-area site into SouthField, the project’s latest master developer has been readying the hangar for the movie maker, reported Wicked Local Weymouth. The first phase of the renovation will cost about a half-million dollars and covers remediation of the soil and lead paint, and the replacement of 400 broken windows, said LStar managing partner Kyle Corkum. A second phase would upgrade an office attached to the hangar …

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  • Sale of Officer Housing to Result in Ft. Monmouth’s First Residential Project0

    The LRA for the former Fort Monmouth last month approved the sale of 117 units of officer housing within the Fort Monmouth National Register Historic District in Oceanport, N.J., for $8.3 million, paving the way for the reuse effort’s first residential project. The officer housing is located on two parcels totaling 36.5 acres, and includes residential units in single, duplex and four-plex configurations surrounding and adjacent to the post’s parade ground. The developer’s proposal calls for 68 market-rate, for sale units north of the parade ground and 48 rental units south of the parade ground, according to a press release from the Fort Monmouth Economic Revitalization Authority. The South Post units would be a mix of market-rate and affordable housing rentals …

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  • LRA Closes on Deal to Acquire Ft. McPherson from Army, Sell Bulk to Filmmaker0

    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 …

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  • Ft. McPherson Sale to Filmmaker to Close Shortly0

    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 …

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  • Treasure Island Project Poised to Move ahead following Property Transfer0

    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 …

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  • Atlanta May Need to Help Finance Sale of Ft. McPherson0

    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 …

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