Cleanup of Campus Bay Property in Richmond Makes Significant Progress

November 17, 2008

RICHMOND – A key document that brings the 87-acre Campus Bay property in Richmond closer to a safe cleanup and beneficial reuse for the community has been approved by the California Department of Toxic Substances Control (DTSC), it was announced today. The Human Health Risk Assessment (HHRA) provides an evaluation of data from years of soil, soil gas and groundwater sampling, and will help guide the cleanup process for the former industrial site.

"The approval of the Human Health Risk Assessment marks a major step for the safe cleanup of the Campus Bay property, and we are excited to have the State’s approval as we move forward," said Jason Keadjian, spokesperson for Brooks Street, the development partner of the property's owner, Cherokee Simeon Venture I, LLC.

The HHRA approval is the latest achievement in a cleanup process in which DTSC, the community and property owners are working collaboratively. In addition to DTSC, the HHRA was reviewed by the Richmond Southeast Shoreline Community Advisory Group (CAG) and its technical consultant. The CAG is a volunteer committee of community members that reflects the composition, diversity and interests of Richmond.

Next steps for the Campus Bay cleanup include the completion of a Feasibility Study, which will evaluate cleanup options for the site, and a Remedial Action Plan, which will determine how the cleanup will proceed.

Located between Meade Street and the Bay Trail, just south of I-580, Campus Bay represents an important opportunity to address more than a century of industrial use and transform a key area of Richmond into a new resource for the community. The cleanup is being designed to protect human health and the environment, and support a broad range of uses that will bring jobs, businesses and other benefits to the people of Richmond. A commitment to the protection of the environment and the safety of the community, and responsible and sustainable planning practices, are guiding the redevelopment project.

Cherokee Simeon Venture I, LLC is the owner of the Campus Bay property. For more information about the cleanup and reuse of Campus Bay, visit www.campusbayrichmond.com.

Cherokee is the leading private equity firm investing capital and expertise in brownfield redevelopment. For more than two decades, Cherokee has delivered positive environmental and social results. Cherokee has invested in more than 525 properties worldwide. The company has evolved its leadership role in the reclamation of brownfields by applying expertise, creativity and resolve to the sustainable redevelopment of properties after remediation. For more information, visit the company's website at www.cherokeefund.com.

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