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June 22, 2018
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Groundbreaking Marks Start of Construction on $1 Bil Waterfront Development in Alameda

5/25/18

The City of Alameda and its private partner, Alameda Point Partners LLC, have broken ground on the first phase of the $1 bil mixed-use, transit-oriented waterfront development at the gateway to Alameda Point, called Site A. The 68-acre Site A development is located on the site of the former Naval Air Station Alameda, which closed over 20 years ago.

Alameda Point Partners (APP) is a joint venture led by Managing Partner Trammell Crow Residential (TCR), 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.

Projected to cost $500 mil, the first phase of the Site A project 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 100k sf 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.

“The Bay Area is in tremendous need of additional housing at all levels of affordability - market rate, workforce, and affordable,” said Stephanie Hill, Vice President - Development, Trammell Crow Residential’s Northern California division. “One of the mandates for this development is to build 25 percent of the residential units on Site A for affordable and below-market-rate housing. This is higher than most cities require in the Bay Area.”

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 Pkwy and Orion St. Eden Housing’s homes will be targeted at extremely low, very-low, low, and moderate-income households, which will be constructed in two buildings. One will be a "family" building with 70 units, while the second will be a building for seniors with 60 units. KTGY Architecture + Planning is the designer of both buildings.

Upon buildout, the 68-acre master plan development will bring 800 residential units and up to 600k sf of commercial space, 15 acres of parks and public open space, and new transportation services and facilities, including the new ferry terminal.

Site A is attracting a new generation of people who are looking for a less car-dependent lifestyle. According to Hill, a goal at Site A is to reduce dependency on the automobile and improve alternative modes of transportation by encouraging people to shift a greater share of their trips to public transit, biking, and walking. “Having the new ferry service located at the front door of Site A is a game-changer! Alamedans can get to San Francisco in 20 minutes stress-free by boat,” Hill added.

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, which is slated to include a hotel plus additional commercial space, will be a function of the Navy’s completion of its remediation activities before the remaining portion of Site A is turned over to APP.

Completion of the new infrastructure for phase one of Site A 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 over the life of the project and serve as the catalyst for thousands of future jobs.




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