In a statement to CBS News Bay Area, Signature Development Group said it is working with the oil company for potential redevelopment opportunities for the property located near the Carquinez Strait and Interstate 680.
The company has worked on several large development projects in the Bay Area, including Brooklyn Basin, a development along Oakland's waterfront featuring 3,700 homes and 200,000 square feet of retail space. Signature is also connected to the Willow Village project in Menlo Park, a proposed development seeking to transform the industrial area near Meta headquarters into office, retail and 1,730 homes.
"We understand the impact that this may have on our employees, business partners, and community, and will continue to work with them through this period," Lane Riggs, the company's chairman, chief executive officer and president, said at the time.
"This is like my heart and soul," Mark Felsoci, who recently retired from the refinery after 28 years, told CBS News Bay Area. "I'm very passionate about what's going on here. There's good people in there. There's good people who are going to lose their jobs."
"We're going to certainly survive this," Young said." We may not thrive as much as we had planned in the near future. I think it's hyperbolic to think this represents the end of Benicia as we know it."
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