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Campus Bay’s history goes back more than 100 years when it became home to a succession of chemical manufacturing companies, the last of which ceased manufacturing operations more than 10 years ago. Zeneca, the former owner, initiated a voluntary $20 million cleanup under the oversight of the San Francisco Bay Regional Water Quality Control Board (RWQCB). By 2003, the cleanup was largely complete on the upland portion of the property.
In late 2002, Cherokee Simeon Venture I, LLC (CSV), a joint venture between Cherokee and SIMEON Properties, acquired the 87-acre Campus Bay property. Cherokee is the leading private equity firm investing capital and expertise in brownfield redevelopment. Since 1990, Cherokee has acquired more than 525 properties, many that required substantial environmental cleanup prior to redevelopment. SIMEON is a family of real estate companies dedicated to responsible residential and commercial development in the Bay Area and throughout the Western states.
In 2005, complete regulatory oversight of the Campus Bay investigation and cleanup was transferred to the Department of Toxic Substances Control (DTSC). The DTSC brings decades of experience overseeing the cleanup of polluted properties throughout California. The collaboration between the DTSC, the community and CSV has led to significant progress in the investigation, characterization and cleanup of the property.
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