DUBLIN, Calif., April 7, 2011 /PRNewswire/ -- The U.S. Army Reserve and SunCal have signed the largest-ever Reserve Property Exchange Agreement. The transaction will see the developer build new military facilities at Camp Parks Reserve Forces Training Area in Dublin, Calif., in exchange for 180 acres of land that will be developed into a master-planned community.
The Army chose SunCal through a competitive selection process that began when more than 150 investors, contractors, developers and other interested parties attended an "industry day" to launch the Army's search. SunCal was selected based on its collective experience and the Army's determination that its submission was the best overall value for the Army.
In an innovative process for the Department of Defense, the Exchange Agreement allows the base to gain much-needed new facilities with no impact to the Federal budget through the utilization of land.
Camp Parks will gain a new main gate and 4,300 square-foot administrative building for base police. This will be followed by a 33,000 square-foot area maintenance support facility; a 33,000 square-foot regional medical training facility; a 42,000 square-foot Army Reserve training facility; a 40,000 square-foot public works/logistics warehouse; and a variety of road and utilities infrastructure construction and improvements.
On the 180 acres it receives, SunCal will develop Dublin Crossing, a pedestrian-friendly, mixed-use community that will connect the east and west sides of town currently separated by Camp Parks. Planned as a community centerpiece, Dublin Crossing will be a transit-oriented development within walking distance of a Bay Area Rapid Transit (BART) station. This will include 1,500 new homes, parks and several hundred thousand square feet of retail, office, hotel and industrial uses.
"We're pleased to reach this important milestone so new base facilities can be built at no added cost to taxpayers," said Joseph F. Calcara, Deputy Assistant Secretary of the Army. "This exchange represents the type of innovative public-private partnerships that will enable us to maintain top-rate facilities for our Reserve Forces for many decades to come."
"We can now move forward with the planning and construction of new facilities for the Army," said David Soyka, Senior Vice President of Public Affairs, SunCal. "Dublin Crossing is designed to serve the ongoing growth needs of the Bay Area fueled by job growth. Through the use of public transportation, families will be able to walk to BART and leave their cars at home."
"This brings the vision of Dublin Crossing a step closer to reality," said Dublin Mayor Tim Sbranti. "We're excited to continue working with SunCal as we partner to bring new jobs, shops, restaurants and homes, plus parks and trails, to Dublin. This new neighborhood is a significant part of our city's future."
SunCal acquires, entitles and develops major residential properties and commercial developments. The company specializes in creating distinctive master-planned and mixed-use communities that emphasize quality of life, environmental sensitivity and recreational opportunities. SunCal is the largest privately held land developer in the U.S. For more information, please visit www.suncal.com.
This exchange was accomplished with the assistance of Nova Property Solutions, a Washington, D.C. real estate investment and consulting firm that specializes in the acquisition and redevelopment of former military properties.