Brookfield has been selected to redevelop a massive former U.S. naval base.

The City of Concord, located in California’s Bay Area, announced that it chose the Canadian firm, through its U.S.-based development arm, as the master developer for the Concord Naval Weapons Station.

As Connect reported, Brookfield Properties is slated to reinvigorate the 2,300-acre U.S. Navy-owned property. Plans call for 13,000 new housing units and millions of square feet of commercial space.

New York-based Brookfield Properties is a wholly owned subsidiary of Toronto-based Brookfield Asset Management, one of the world’s largest institutional investors. The City of Concord selected Brookfield after scrapping two earlier development deals and Housing America Partners withdrew from the latest application process.

Next steps for the base reuse project include outlining an exclusive negotiating agreement between the city and Brookfield and a term sheet for the negotiation of a proposed disposition and development agreement. A specific plan will also be drafted.

Photo credit: Daniel Schwen/Wikipedia