Sale of El Toro
The Department of the Navy hired the General Services Administration and Los Angeles-based Colliers International to assist in the sale of MCAS El Toro. Colliers branded the project as Heritage Fields combining the long standing history of the base and what the future of the base will be to the community and the generations to come. An online auction was conducted and in February 2005, the final bid of $650 million was accepted for the four parcels of land comprising the former MCAS El Toro. The winning bidder was Heritage Fields LLC, a joint venture between developer Lennar Corporation and several other firms. Development plans for the 3,724 acres (15 km2) site include residential, golf, commercial, R&D, and schools. 1,375 acres (5.6 km2) of the site will be dedicated to the Great Park. A ceremony to formally transfer ownership of the property to Heritage Fields LLC was held on August 29, 2005.
Read more about this topic: Marine Corps Air Station El Toro
Famous quotes containing the words sale of and/or sale:
“[T]he dignity of parliament it seems can brook no opposition to it’s power. Strange that a set of men who have made sale of their virtue to the minister should yet talk of retaining dignity!”
—Thomas Jefferson (1743–1826)
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