Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OAKLAND, CA-A local pastor is negotiating with the U.S. Department of the Navy to purchase the former Oak Knoll Naval Hospital site, a 174-acre property in one of Oakland’s most exclusive areas.

Rev. Joseph Simmons, pastor of the 4000-member Greater St. Paul Baptist Church, bid $22.5 million last month for the property, which was a Navy site until it closed in 1996. However, due to lack of immediate funding, the church has requested an extension to raise the remaining $20 million it still owes.

The church’s exact source of funding is not clear and the reverend has avoided revealing any financial details, so the question remains: where will the money come from? According to representatives of the church, a mystery donor supplied most of the money for the down payment. The church’s development company, the St. Paul Economic Empowerment Development Corp., plans to about 500 housing units on the property, as well as a school and social services center.

If the church is unable to produce the funds, the city of Oakland plans to bid again on the property. The city initially bid $11 million, which the Navy rejected as too low.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.