Wasnt this part of a discussion here some time ago:
The developer building a mini-city on the former South Weymouth naval air base has finally reached a deal to buy the remaining 830 acres of the sprawling station from the Navy, allowing the next phase of construction to proceed at one of the state’s largest redevelopment projects.
LNR Property Corp. will sign the purchase agreement with the Navy today, agreeing to pay about $25 million for land that will complete its SouthField development, a planned community of 2,800 homes, 2 million square feet of stores and offices, a golf course, athletic fields, and other facilities.
The deal came together when the Navy agreed to clean up fuel waste and other contaminants on the property, ending lengthy negotiations that date back to the closure of the base in 1997.
“With this agreement, we now have the ability to build out our vision for this property,’’ said Kevin Chase, the LNR executive leading the project. “It gives us the land for amenities like the golf course, sports and recreation complex, and the village center where people can dine and shop.’’
The $1.5 billion SouthField project has moved in fits and starts over the years, with master developer LNR and the base’s public overseer, the South Shore Tri-Town Development Corp., battling bureaucratic snags and then the collapse of the housing market and broader economy.
An official with South Shore Tri-Town, which represents the three communities around the base, Weymouth, Abington, and Rockland, called today’s deal “a huge step forward for our region.’’
The developer building a mini-city on the former South Weymouth naval air base has finally reached a deal to buy the remaining 830 acres of the sprawling station from the Navy, allowing the next phase of construction to proceed at one of the state’s largest redevelopment projects.
LNR Property Corp. will sign the purchase agreement with the Navy today, agreeing to pay about $25 million for land that will complete its SouthField development, a planned community of 2,800 homes, 2 million square feet of stores and offices, a golf course, athletic fields, and other facilities.
The deal came together when the Navy agreed to clean up fuel waste and other contaminants on the property, ending lengthy negotiations that date back to the closure of the base in 1997.
“With this agreement, we now have the ability to build out our vision for this property,’’ said Kevin Chase, the LNR executive leading the project. “It gives us the land for amenities like the golf course, sports and recreation complex, and the village center where people can dine and shop.’’
The $1.5 billion SouthField project has moved in fits and starts over the years, with master developer LNR and the base’s public overseer, the South Shore Tri-Town Development Corp., battling bureaucratic snags and then the collapse of the housing market and broader economy.
An official with South Shore Tri-Town, which represents the three communities around the base, Weymouth, Abington, and Rockland, called today’s deal “a huge step forward for our region.’’
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