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Alameda (California) development team selected

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)

Dy Associates is an Oakland Real Estate company specializing in commercial, home and investment property in the Oakland and East Bay Area. We provide real estate services including buyer agent, seller agent, short sales, commercial and investment acquisitions, loan facilitation, hard money lending, financing assistance property management. Articles are provided as information only. We do not provide legal or general investment advice.


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