Oakland Tribune: Progress at Oak Knoll -- buildings coming down
Lehman Brothers will spend $3.7 million to complete the demolition of more than 90 buildings at the former Oak Knoll Naval base that are targets for vandals and squatters, the Oakland City Attorney's Office announced Wednesday.
Lehman, the bankrupt financial partner of SunCal Companies in the planned 960-unit residential development project in the East Oakland hills, agreed to release the money after touring the site last month with city officials and the Oakland fire marshal.
The agreement must be approved by SunCal's bankruptcy court, which is expected to happen fairly quickly, said Alex Katz, spokesman for the city attorney. The work could begin within a couple of weeks.