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 (APCP) notified the city of their tentative decision to move forward with the long-awaited redevelopment of Alameda Point.