Saturday, September 10, 2011

NEIGHBORHOODS: Deal reached for Navy site

The public organization overseeing redevelopment of the South Weymouth Naval Air Station has reached a tentative deal to buy a huge swath of the base from the Navy, providing land needed for construction of a minicity with thousands of homes, stores, and recreation space.

South Shore Tri-Town Development Corp., which represents the communities surrounding the base, will purchase about 900 acres of property from the Navy for $25 million.

The agreement, to be finalized in coming weeks, marks the final chapter of long and complicated negotiations over the disposition of the decommissioned air base.

The deal, announced by Senator John Kerry’s office late yesterday, will allow base developer LNR Property Corp. to continue with work on SouthField, a project that will cover the property with homes, stores, offices, a golf course, and other amenities. Work on the first homes in the development began earlier this year after the state provided stimulus money and other funds for construction of an access road across the property.

The final deal to transfer the property is expected to be completed by Nov. 15.

Casey Ross Boston Globe August 31, 2011

No comments: