The City of Alameda and private partner Alameda Point Partners broke ground on the first phase of the $1 billion mixed-use, transit-oriented waterfront development on the site of the former Naval Air Station Alameda.
The 68-acre Site A development, which is projected to cost $500 million, consists of 673 housing units, including 130 units of affordable housing for low and very-low income households, and an additional 310 units affordable to middle-income households, eight acres of parks and open space, and nearly 100,000 sq. ft. of resident-serving retail, dining, and maker spaces, as well as space for community events and gatherings.
Major infrastructure improvements on the 30-acre phase one project include new water, sewer, electrical and gas lines, newly paved streets with bike and transit lanes, and bulkhead improvements on Seaplane Lagoon for the new ferry terminal.
Alameda Point Partners is a joint venture led by Trammell Crow Residential, a division of Dallas-based Crow Holdings, and also includes commercial developer srmERNST Development Partners, affordable non-profit housing developer Eden Housing, retail landlord Madison Marquette, and financial partner Cypress Equity Investments.
Eden Housing will develop a total of 130 affordable housing units in phase one on Block 8, a two-acre parcel at the corner of Ralph Appezzato Memorial Parkway and Orion Street. KTGY Architecture + Planning is the designer.
Once complete, the 68-acre master plan development will bring 800 residential units and up to 600,000 sq. ft. of commercial space, 15 acres of parks and public open space, and new transportation services and facilities, including the new ferry terminal.
Alameda Point Partners is scheduled to move forward with the transfer of approximately 20 acres from the city in 2019 for the project’s second phase. The timing of the third phase will include a hotel plus additional commercial space.
Completion of the new infrastructure for phase one is expected within the next two years, with vertical construction of the new buildings commencing by year end. The first residential units are projected to be completed in the second half of 2019.
The project will create approximately 2,500 direct construction jobs.