Orange County Business Journal: SunCal Cos.’ Bay Area Base Redevelopment in Jeopardy
Submitted by west on Sun, 03/07/2010 - 08:03
Excerpt:
Irvine-based master developer SunCal Cos. is searching for a “Plan C” to push ahead on the massive redevelopment plan it has in the works for the Bay Area.
A ballot measure that would have cleared the way for SunCal to start redeveloping about half of the 1,500-acre former Alameda Naval Air Station was soundly shot down by that city’s voters about a month ago.
Now the city of Alameda is reportedly threatening to end SunCal’s exclusive negotiating agreement for the site, now known as Alameda Point, if a better plan isn’t drawn up soon by the developer.
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