Alameda Sun: Developer Pulls Out of Point

Excerpt:

Cooling housing market and land price sour redevelopment deal

The redevelopment of the former Alameda Naval Air Station suffered a major setback last week when the developer informed the city they were pulling out of the project, citing a cooling housing market as the chief reason for their withdrawal.

The about-face came one month after Alameda Point Community Partners (APCPAlameda Point Community Partners, the previous Master Developer for Alameda Point) notified the city of their tentative decision to move forward with the long-awaited redevelopment of Alameda Point.