A development partnership plans to invest up to $500 million to start the remake of the first 68 acres of the former Alameda Naval Air Station into a signature neighborhood intended to help attract 8,000 new jobs to the island city.
The plans envision retaining a portion of the air station's World War II-era buildings for commercial space with an eye on increasing the number of small-scale manufacturing, retailing and artisan-based businesses that the area already supports and adding up to 800 homes.
The housing would largely finance the infrastructure. Alameda Point Partners plans more than $100 million for infrastructure that should benefit the entire 878-acre Alameda Point redevelopment area.
Proposed improvements include $5 million for a waterfront park and $10 million for a ferry terminal to connect the neighborhood to San Francisco's Embarcadero terminal, plus a $5 million sport complex and new transit and utility corridors.
Source: Sharon Simonson (Contributor, SFO Business Times)
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