Two pieces of news about the former Concord Naval Weapons Station came out six days apart. On September 24, 2026, the City of Concord announced that the U.S. Navy had approved the term sheet for about 2,422 acres of the base. On September 30, Governor Newsom signed SB 328, a state law written for this project. Read together, they sound like the project is finally underway.
The Navy agreement settles what the land costs and when the payments come due. That payment schedule is why the first phase of building has been trimmed to housing and local streets near North Concord/Martinez BART, with the larger roads, the bridge and the water reservoir moved to a later phase. If you're comparing Concord with other East Bay cities, that tells you which part of the plan sits closest to today and which parts sit further out.
The city calls the term sheet "the financial agreement between the City and the U.S. Navy regarding the price and payment terms" for the land, and says the master developer, Brookfield, supports it. The term sheet transfers no land. The May 26, 2026 City Council staff report explains that a more detailed Economic Development Conveyance Memorandum of Agreement, or EDC MOA, still has to be negotiated in the format federal rules require.
Here is how the Navy gets paid, according to that report:
| Payment | Amount | Timing |
|---|---|---|
| Deposit | $4.6 million | At the initial transfer of roughly 1,000 acres in 2030 |
| Guaranteed deferred payments | $10 million a year plus interest, four payments | 2033 through 2036, covering land in Phases 1 to 3 |
| Gross land proceeds | 10% of Phase 4 transfers, 12% of Phase 5 transfers | As those phases transfer |
| Profit participation | 50% of the city's share | Any phase where Brookfield's internal rate of return exceeds 18% |
If the project performs as planned, the staff report estimates the Navy receives about $628 million over a 30-year build-out. The deposit at transfer is less than 1% of that total. Most of the money depends on later phases selling land and earning a profit. The Navy's return grows as the project succeeds, so the deal works best for both sides if the early phases stay affordable to build.
The developer's own agreement with the city dates to 2024, before anyone knew the Navy's price. The staff report says that to meet the Navy's terms "and maintain the financial viability of the project, the timing of certain infrastructure and community benefits have been shifted or deferred."
The list of deferrals shows what moved:
The staff report gives the reason for the loan deferral directly: it "improves the fiscal integrity of Phase 1 which incurs significant up-front infrastructure costs." The other changes follow the same logic. Every item on the list costs money before the first home can be sold, so moving it later keeps Phase 1 financially workable under the Navy's terms.
The big commitments stayed in place. The report confirms the project still includes 12,272 homes, a 25% affordable housing commitment, 6 million square feet of commercial space, and 868 acres of local parks, paths and bikeways next to the future Thurgood Marshall Regional Park – Home of the Port Chicago 50. The totals didn't change. Only the order did.
The revised phasing summary, marked "Revised as of 5/6/2026," puts Phase 1 at 352.6 acres. An earlier 2024 city staff report places it near BART, along the residential areas by Mount Diablo Creek, and along Willow Pass Road. KQED reported that the first housing phase is expected near the North Concord/Martinez BART station.
Phase 1 plans 2,258 homes, 1,696 at market rate and 562 affordable, plus 620,000 square feet of commercial space. The mix leans heavily toward lower density:
So Phase 1 is mostly a residential neighborhood next to an existing BART station. The campus, the innovation district and most of the commercial square footage come later.
| Phase | Market-rate homes | Affordable homes | Commercial space |
|---|---|---|---|
| 1 | 1,696 | 562 | 620,000 sq ft |
| 2 | 1,388 | 467 | 4,700,000 sq ft |
| 3 | 2,201 | 737 | 680,000 sq ft |
| 4 | 1,737 | 581 | 100,000 sq ft |
| 5 | 2,183 | 720 | None listed |
Phase 2 holds about 77% of all the commercial space in the plan. That includes a 120.7-acre Campus District, a 3-acre library and community center pad, and land for a Food Bank expansion. The documents give no calendar years for Phases 2 through 5. The plan does call for a higher-education campus, but none of the sources reviewed for this post name a university as its operator.
The road deferrals affect access. Brookfield's 2025 project FAQ describes one to three likely arterials. One would run via Bailey Road to Willow Pass Road, one to the BART/Panoramic Way intersection at Port Chicago, and one beneath Highway 4 to Evora Road. The FAQ doesn't say which connection belongs to which phase. The revised term sheet does settle the Evora Road side, which is now Phase 2 work, including its bridge over Mt. Diablo Creek.
For Phase 1, the term sheet mentions utilities stubbed from Willow Pass Road to serve the Tournament Sports Park. The materials reviewed don't specify which existing streets will serve as Phase 1's entry points. The Specific Plan should answer that.
The schedule is long, and the sources don't fully agree on it. The May 2026 staff report estimates that all entitlements and agreements will go to the City Council in summer 2029. The San Francisco Chronicle reported that the first phase would likely break ground in 2030. KQED's article text also says 2030, while the transcript of its audio report says 2031. KQED also reported that no permanent structure has been built and that Brookfield said the site first needs power, potable water and storm drains.
There is one way physical work could start before the land changes hands. The Navy term sheet calls for a lease, signed no later than the 2030 transfer, that would let the city and developer do pre-development work such as wetlands creation and infrastructure installation before the property transfers.
On May 26, 2026, the Council, sitting as the Local Reuse Authority, voted unanimously to accept the Navy term sheet, revise Brookfield's terms, and amend its exclusive negotiating agreement. That amendment extends the negotiating period to December 31, 2029, with two automatic three-month extensions available through June 30, 2030 if progress continues.
According to Patch, SB 328 lets qualifying projects that match the adopted reuse plan's land uses and locations rely on the existing environmental impact report and addendum. It also exempts the phased land transfers from the usual Surplus Lands Act process. Court challenges to project approvals would be resolved within 270 days where feasible. The law keeps the 25% affordability requirement, bars the city from weakening it, and allows later challenges if the finished project falls short. Patch also notes the bill had opponents, who questioned how far environmental and public-land review should be relaxed.
The term sheet requires the EDC MOA to be negotiated and executed within 90 days of the Navy's approval. The Navy reserves the right to change how it conveys the land if the MOA isn't executed within 12 months. Counting from the September 24 announcement, the 90-day window closes around December 23, 2026. Brookfield is leading the Specific Plan, consultant work starts this winter, and the city expects community engagement to begin in early 2027. The Specific Plan will settle street layouts, uses and design standards. Patch describes it as "the detailed blueprint for future development."
For how the base fits with the rest of the city's housing, see our guide to Concord neighborhoods and micro-market trends and the Concord neighborhood page.
Can the public visit the future regional park now? Not for general access. The East Bay Regional Park District accepted possession of the site in 2019. The district says the future park is closed to the public but schedules naturalist-led programs and public tours during the year. Its roughly 890-acre South of Bailey Road access project expects construction to begin in 2027, depending on funding and permits. The district describes the park as about 2,500 acres. The city's staff report uses 2,600.
Did the total number of homes change? No. The May 2026 phasing plan totals 12,272 homes, the same count adopted in the 2012 Area Plan. Brookfield's November 2025 FAQ uses about 12,242, but the later city document is the current reference.
Is Brookfield guaranteed to build every phase? The revised term sheet adds language about how Brookfield would be reimbursed for Navy payments if it ends up not being the master developer for a given phase. It allows that to be negotiated but doesn't spell out a solution, leaving the issue for a future Disposition and Development Agreement.
Comparable sales near North Concord/Martinez BART will reflect today's market for years before Phase 1 homes are finished, and appraisers price homes from sales that have closed. If you own in Concord and want to know where your home stands against those sales, The Corio Group can give you a figure built the way an appraiser would build it. Request your home valuation.
This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.
Aeysha Corio combines technology and real estate expertise, with nearly two decades in property valuation. She takes a data-driven, client-focused approach to buying and selling homes. An active community volunteer, she supports local charities and initiatives. In her free time, she enjoys trail running, tennis, cooking, and traveling with her family.
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