US Navy has approved terms for redevelopment of 2,422 acres at California’s former Concord Naval Weapons Station; the master developer will pay $44.6 million plus interest as the abandoned military site moves toward a new future

US Navy has approved terms for redevelopment of 2,422 acres at California’s former Concord Naval Weapons Station; the master developer will pay $44.6 million plus interest as the abandoned military site moves toward a new future

The US Navy has approved the financial agreement for redeveloping about 2,422 acres at California’s former Concord Naval Weapons Station. Brookfield Properties, the project’s master developer, will pay $44.6 million plus interest under the deal. The approval allows Concord and Brookfield to begin work on a Specific Plan, with further community engagement expected in early 2027.