[CPEO-MEF] MH: Homes on Fort Ord to cost $475,000

[CPEO Moderator <cpeo@cpeo.org>]

The following was posted by John McNab <johnamcnab@yahoo.com>
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Lenny,

The two stories below have one thing in common with the project I have
been on  - sweetheart deals for big campaign contributors.  Has anyone
researched who is profiting from the military base closures and who they
are connected with politically?

Thanks,
John McNab
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THE MERCURY NEWS
April 6, 2003
Mayor backers may get nod in S.F. deal

SAN FRANCISCO (AP) A mayoral committee is set to give development
control over the former Navy base at Treasure and Yerba Buena islands to
a Democratic Party fund-raiser and a major donor to Mayor Willie Brown.

On Wednesday, the Treasure Island Development Authority is expected to
approve a partnership formed by lobbyist and fund-raiser Darius Anderson
of Sonoma and investor and campaign donor Ron Burkle of Los Angeles.

The city is being asked to finance most of the approximately $400
million project, yet guarantee the
developer a 25 percent rate of return on the $40 million in private
money invested.

The deal will require ratification by the Board of Supervisors.

[This article can be viewed at:
http://www.bayarea.com/mld/mercurynews/news/5573994.htm ]

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THE MONTERY HERALD
Posted on Mon, Apr. 14, 2003
Homes on Fort Ord to cost $475,000
By VICTORIA MANLEY
vmanley@montereyherald.com

The highly anticipated Seaside Highlands subdivision remains a work in
progress, but it finally has opened its doors for potential buyers and
announced starting prices.

A sales office has opened at the 380-home development, where potential
buyers can pick up brochures and maps and talk to sales
representatives about the pricing structure.

While many Peninsula home shoppers had hoped for bargains because the
project is on surplus government property -- the former Army base at
Fort  Ord -- the prices could be a disappointment for some.

The developers predicted four years ago that prices would start at less
than $300,000. As it turned out, the least expensive home in the project
will cost at least $475,000, according to KB Home's price list.

Most of the houses, many with ocean or golf course views, have a base
asking price of $550,000, according to the price list. Based on that
figure, the smallest house, 2,059 square feet, will cost a homeowner
about $267 per square foot.

"We are a business. We are committed to making a profit, but we are also
committed to making a high-quality product," said Robert Freed,
president and regional general manager of KB Home Northern California.

[This article can be viewed at:
http://www.montereyherald.com/mld/mcherald/news/local/5629863.htm ]

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