Quote:
Nimitz Group closes deal to buy Mare Island shipyard from Lennnar
By Kevin Truong – Special Projects Editor, San Francisco Business Times
Nov 17, 2019, 11:33pm PST Updated 25 minutes ago
Developer The Nimitz Group has completed its purchase of 500 acres of land on Mare Island from residential developer Lennar.
With the acquisition of the former Mare Island Naval Shipyard, The Nimitz Group now holds more than 800 acres of land on Mare Island.
The property includes 3.6 million square feet of leased commercial, light industrial, manufacturing and office space with additional, entitled land and historical buildings cleared for adaptive re-use.
The Nimitz Group is a joint venture between between billionaire Memphis investor Gaylon Lawrence, Jr., and Dave Phinney, a winemaker who also owns Savage & Cooke Distillery on South Mare Island . . . .
(Before the deal, Lennar) added over 350 single-family homes to the site and was entitled for another 1,050 single-family and multi-family units, plus about 7 million feet of commercial space.
Outside of the property formerly owned by Lennar, The Nimitz Group acquired the 170-acre golf course on Mare Island and has an exclusive negotiating agreement with Vallejo to develop 157 acres on the island’s northern half, for which it’s proposed a 15-acre wine facility, a 56-acre film campus and industrial and park space . . . .
The developer has enlisted architect HOK for the master planning process for its Mare Island project.
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https://www.bizjournals.com/sanfranc...9qbjZ4WWYwZCJ9
I don't know. These individuals couldn't possibly have the resources of Lennar and if Lennar wanted out of the project, one wonders what they can do with it. But we'll see.
Also, 1400 homes on 800 acres of land seems way under-developed given our supposed "housing shortage". Admittedly, there would also be a lot of commercial development, with accompanying jobs, but I smell typical Bay Area NIMBYism at work.