Point Partners See Progress at Site A
Alameda Point Partners, LLC (APP) announced last week that it has completed demolition of the entire 30-acre Site A and is 50 percent complete with construction of the infrastructure, which includes water, sewer, electrical and gas lines; a street grid with bike and transit lanes; 8 acres of original parks as well as a ferry terminal in Seaplane Lagoon. The ferry dock is currently being fabricated and construction of the terminal is slated to begin this fall.
“One of the most significant components of the plan is the transit infrastructure with multi-modal strategies that complement and build off each other,” said Stephanie Hill, a spokesperson for APP. “This includes: the new ferry terminal, bus rapid transit, the ‘last mile’ connection to BART with shuttle service every 15-minutes in peak periods, plus bike and car sharing.”
Completion of the infrastructure for phase one of Site A is expected in late 2019, followed by the completion of the ferry terminal in early 2020.
Crews broke ground on Block 9 of Site A earlier this month. The site will see construction of 200 market-rate residential units. This new residential community will feature a fitness and cardio center, rooftop deck, resident lounge, co-working spaces. It offers panoramic views of Alameda’s Seaplane Lagoon, the San Francisco Bay and the San Francisco skyline. The new development will also include approximately 10,000 square feet of retail and commercial space.
Eden Housing recently started construction on 60 units of senior housing on Block 8, with a formal groundbreaking ceremony expected to take place today. Eden Housing will develop a total of 130 affordable housing units on Block 8, a two-acre parcel at the corner of West Atlantic Avenue and Orion Street. Eden’s apartments will be affordable to extremely low, very low and moderate-income households in two buildings. One will provide 60 units of senior housing, while the other will provide 70 units of family housing.
Hill stated that Block 6, which has been purchased by Trumark Homes, will start construction this summer. Trumark plans to build 64 townhomes. Block 7 is currently optioned by Trumark for 60 townhomes, and APP expects to close on the sale of the property in mid-July 2019.
On Block 11, Managing Partner Trammell Crow Residential, in a venture with Los Angeles-based developer Cypress Equity Investments, will construct a 220-unit market-rate apartment community. Larger units will offer views of the San Francisco Bay and the downtown San Francisco skyline. The company is slated to begin work on the site, dubbed Alexan Pan Am, in late 2019. The site will include 15,000 square feet of retail and commercial space. The project is located across the street from the waterfront park on Seaplane Lagoon and close to the new ferry terminal.
“The new ferry service is a game changer,” said Hill. “It is right at Alameda Point’s front door and provides direct service to downtown San Francisco in 20 minutes. This is a great amenity for residents and businesses of Alameda Point and will cut down on the number of cars on the road.”
APP is scheduled to move forward with the transfer of approximately 20 acres from the City of Alameda in the spring of 2020 for the project’s second phase. The timing of the third phase, slated to include a hotel and more commercial space, will be determined by the Navy’s completion of its remediation activities, according to Hill.
Site A is a $1 billion mixed-use, transit-oriented waterfront development on the site of the former Naval Air Station Alameda, which closed 22 years ago.
APP is a joint venture between Managing Partner Trammell Crow Residential, a division of Dallas-based Crow Holdings; Los Angeles-based developer Cypress Equity Investments and San Francisco Bay Area-based commercial developer srmERNST Development Partners.
Over 40 years, Trammell Crow Residential has built more than 275,000 multifamily residences, creating new communities in locations nationwide. Trammell Crow Residential and Crow Holdings Industrial are part of the development platform of Crow Holdings, a privately owned real estate investment and development firm with a 70-year history.