Concord is nearly $40 million in the hole for Naval Weapons Station project. Here’s how they plan to get it back.

CONCORD — Transforming an abandoned military base into a massive $6 billion, mixed-use community is no simple task — and Concord has the $40 million bill to prove it.

For nearly two decades, the city has attempted to revitalize the former Concord Naval Weapons Station into tens of thousands of homes and millions of square-feet of schools, offices, shops and restaurants.

But that vision had only racked up nearly $40 million in expenses by the end of 2023 — with almost nothing to show for it.