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Developer Pays Premium for City-Owned Land

CONCORD, CA-City officials here have accepted an offer from developer Seecon Financial for a city-owned parcel in Concord. The 60,000-sf parcel was appraised at $750,000. The developer offered to pay $935,000.

By Michelle Savage | Updated on September 27, 2002

CONCORD, CA-Local developer Seecon Financial wants to purchase a city-owned parcel of land in Concord, and is willing to pay nearly $200,000 more than the appraised value for the 60,000-sf property.

According to city officials, Seecon Financial has made an offer of $935,000 for the land, which is currently leased by a church. The 1106 Alberta Way site was appraised at $750,000. The city council agreed to accept the developer’s offer and will vote on the written sales agreement next month.

The city has gotten several bids for the property since it was first offered for sale in the 1980′s—many of which were accompanied by various conditions. However, Seecon offered to purchase the property “as is,” which pleased many city council members.

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