Lennar takes great pride in being selected as the master developer for the Concord Reuse Project. We understand the importance of the opportunity and true potential to redefine both the City of Concord and the region. We are excited about our partnership with the City and the Community on this significant endeavor.
Together, we will develop a vibrant new neighborhood within the existing and flourishing community. We are committed to being the City of Concord’s partner to help nurture this evolution.
Concord Naval Weapons Station
Redevelopment of the Concord Naval Weapons Station into a vibrant part of Concord presents an amazing opportunity for the people of Concord and the entire East Bay region.
Benefits:
GUARANTEED community benefits:
Lennar GUARANTEES it will provide $20 million for community benefits. The city will receive $2 million annually for 10 years.
Commitment to affordable-housing:
Our proposal provides a roadmap to achieving 25% affordable housing. Lennar will provide $40 million in cash subsidies for construction of affordable housing. The subsidy is in addition to the cost of infrastructure and delivery of ready-to-build homesites, mixed-income projects with 80% market rate/20% affordable homes, permanent multi-family supportive housing, and land donated for self-help home builders like Habitat for Humanity.
Profit-sharing:
The revised plan shares profits that exceed a 20 percent return on investment. Under current estimates, Concord would receive more than $23 million.
Infrastructure:
In addition to overall infrastructure at the site, our plan also includes the widening of Willow Pass Road, at the bridge over Mount Diablo Creek.
Nearly 80 acres of parks and open spaces:
We have budgeted $26 million to build 79 acres of parks and greenways. We have very recent experience at building innovative high-quality parks, including The Great Park Neighborhoods in Irvine and the Hilltop Parks in The San Francisco Shipyard.
New school:
Lennar has allocated $39 million to build a new K-8 school.
Two new community centers:
People enjoy our community centers – we will spend $20 million on two new centers for Concord.
Ownership/risks:
Lennar will take ownership of land incrementally, parcel-by-parcel, and not all at once. To further protect the City, Lennar will provide bonds that guarantee that all infrastructure work will be completed.
Open Book Financial Procedures:
As we do on our other public/private partnerships, Lennar will implement open book financial procedures, including strict record keeping and retention policies, detailed financial reports , and audit rights, which allow the City to inspect financials upon request.
More experience:
No company has more experience working with California cities and the U.S. military in redeveloping closed bases. Lennar currently is developing four bases in productive public-private partnerships: Great Park Neighborhoods in Irvine, The San Francisco Shipyard, Candlestick and Treasure Island in San Francisco, as well as Mare Island in Vallejo.
BART transit-oriented development experience:
Lennar currently is developing the Fremont Warm Springs Innovation District near the South Fremont BART station and the Tesla manufacturing plant. The mixed-use community includes homes, technology offices, public spaces and a new elementary school.
Local:
Lennar’s leadership is headquartered in the Bay Area. We hire local workers for all phases our communities and Lennar will open a Concord office in 2017.
A strong, stable, family company:
Founded in 1954, Lennar is still run by the family of the original owner – allowing us to give every community the attention and investment it deserves. Lennar is committed to Concord.
Our track record:
We’re proud of the communities we help bring to life and invite you to visit neighborhoods in other cities where Lennar has shown its commitment to quality and fair dealing.