Excerpt:

After decades of planning, a major housing development on a former military base in Alameda has run into financial trouble.

But the developer believes he has found a solution and is hoping that it meets with the approval of the Alameda City Council

The proposed development is called Alameda Point. It would sit on 68 acres of what was once part of the Alameda Naval Air Station.

The plan is to build 800 housing units, 200 of them affordable, along with commercial space and public park.
But after years of planning the developer says the project is in financial default.