
CONCORD, Calif (KGO) -- Concord is moving forward with a project to build 12,000 homes at the former Naval Weapons Station after decades of delays.
In addition to thousands of new homes, the project is also expected to include 6 million square feet of new commercial space.
City leaders call the latest plan to develop the area "a major win" for Concord.
"We're now going to revamp this plan as we move forward through the next several years," said Guy Bjerke, Concord's economic development director. "This is the first time in all of that time that we've reached an agreement with the Navy over the terms of payment."
The city council decided Tuesday to approve a financial agreement with the Navy.
The multibillion-dollar project allows developer Brookfield Properties to build more than 12,000 homes, including 3,000 affordable units.
The plan includes more than housing.
"It includes 6 million square feet of commercial space, about 800 additional park acres, bikeways, trails, and a tournament sports complex," said Bjerke.
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The former Naval Weapons Station closed in 2005.
As part of the plan, Brookfield Properties would pay the Navy $628 million over 30 years for the 2,225-acre area.
Redeveloping the area is not an easy task.
"It's a complicated project with endangered species, remediation and contamination cleanup," said Bjerke.
Mayor Laura Nakamura said the project will help change the landscape of Concord and the region for the better.
"I'm thrilled. I want to call it a win for the community and all the stakeholders who have been tuning in for 20 years," said Nakamura.
City leaders say the project helps the city and the region meet the state's housing demands.
"More than 12,000 units of housing. It is spread across a diverse affordability landscape. It is really going to be a nice benefit not just for the city but also for the region," said Nakamura.
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Those who work and live in Concord say the project is promising.
"It's worth it, especially if they put some housing there for people who need it, not just for people, but people who actually need to be housed," said David Wilson.
The city of Concord is still waiting for the Navy to give final approval.
City leaders say it will take several years of planning before the project breaks ground in 2030.