The planned foreclosure auction of nine of Berkeley Investments’ Fort Point properties has been postponed.
Berkeley and Wells Fargo may have reached an agreement on financing. If so, it’s good news for the district, where there’s high hopes of one day making it into a virbrant 24/7 neighborhood. Berkeley has a good track record and vision for the Fort Point area, activists have maintained.
Give Berkeley president Young Park credit. He and others said in March, when news of a possible May 5 auction first surfaced, that he was negotiating hard and downplayed the possibility of an auction. The general reaction then: Yeah, right, see you later. But he’s since been proven correct — at least for the time being.
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