Alameda Sun: New Point property manager a possibility, December 23, 2010


The new year could bring a new property manager to Alameda Point, and the idea is not a novel one.

Interim City Manager Ann Marie Gallant told the city council at the beginning of December that city staff has been considering replacing PM Realty Group since January.

The New Year could bring a request for proposals to fill the slot, Gallant stated.

Alameda Point Community Partners (APCP), which the city council gave the right to develop the former Naval Air Station, in 2001, hired PM Realty Group.

The partnership consisted of Morgan Stanley, Shea Homes of Livermore, Centex Homes of Dallas and Industrial Realty Group.

APCP withdrew its bid to develop the Point in September 2006; the partners blamed a downturn in the residential market.

In May 2007 the city council acting as the Alameda Reuse and Redevelopment Authority (ARRA) approved SunCal as a possible master developer.

Two months later ARRA inked an exclusive negotiating agreement with SunCal. Neither SunCal nor the city expressed a desire to replace PM Realty Group as property manager at that time.