Alameda Point

Oak Knoll Update from SunCal Companies

September 21st, 2009

As the development manager of the proposed Oak Knoll community in Oakland, we’d like to provide an update about this development since it has recently been in the local news.  The resumption of suspended demolition work and property maintenance is an important matter we have been advocating since last year with Lehman Brothers, which is the financial partner for SunCal Oak Knoll, LLC, the owner of the Oak Knoll property.

Lehman Brothers filed for bankruptcy in September 2008 and this affected the funding for Oak Knoll and other projects that the firm provided financing for.  However, we are presently engaged in discussions with Lehman about the outstanding issues at Oak Knoll, and we are working with them in a cooperative effort to resolve this and the respective matters at other properties.  SunCal remains committed to the long-term potential and vision of the Oak Knoll master-planned community.

See a related post on the Alamedans for Alameda Point Revitalization blog here.