25 September, 2008
A piece of land like this in an urban area doesn’t come along often, and it fell into private hands after the city played chicken with the Navy, which ultimately rebuffed its lowball bid. SunCal worked closely with the neighborhood group Oak Knoll Coalition, incorporating neighbors’ desires to preserve Club Knoll and restore the creek, but there is still disagreement over plans to build mini-mansions on the ridgeline.
19 September, 2008
The bankruptcy of Lehman Bros., lender in SunCal Cos. $100.5 million purchase of the former Oak Knoll naval hospital site, comes as the developer and the city of Oakland are negotiating conditions for the 167-acre mixed-use development.
SunCal officials have reassured the city their financing is not in jeopardy due to the bankruptcy, but at least one redevelopment agency official expressed concern.