Excerpt:

Alameda officials are hailing the decision by one of the teams that aims to win the coveted America's Cup next year to set up in the city, where they will rent a warehouse for equipment and accommodation for the sailors and their families.

Artemis Racing, which represents the Royal Swedish Yacht Club, secured the 110,000 square foot former aircraft hanger at Alameda Point under a lease signed last month with city officials.

The 70-member team and their families are expected to stay on the Island to help prepare for the race, one of the most prestigious sailing contests in the world.