Catellus Walks Out Of Concord Naval Station Redevelopment
In the latest twist in the fate of Concord's Naval Weapons Station, Catellus Development has withdrawn from the process. Concord City Council voted 2-1 in a special meeting last night to deny Catellus a requested change in its terms.
Council members voted to refund the developer's $250k deposit. In exchange, Catellus will withdraw and waive any right to sue Concord, according to the San Jose Mercury News. Catellus CEO Ted Antenucci previously said he would prefer to withdraw now rather than take the matter to court.
Concord intends to convert the 2,200-acre space for hotels, golf courses and about 12,000 homes. Catellus and Lennar Urban's efforts to land the redevelopment have been highly contentious, with Catellus accusing Lennar of improperly lobbying for the contract. The city’s independent investigator found Lennar and the city acted improperly, but that Lennar could still be considered for the contract.
City council will have a meeting April 5 to decide the fate of the bid. It could award Lennar the contract, further negotiate with Lennar or restart the process. [SJMN]
