East Bay Time: Council clears permit hurdle for Alameda Point developers, March 8, 2018
On Tuesday, the council amended its agreement with the team to remove a provision that would have allowed the city to withhold building permits for the project’s market-rate housing beyond the planned 395 market-rate units if not all financing is available by December for those units.
The action was also needed to help clear the way to secure financing and to take other steps to get infrastructure built. The 68-acre project calls for 800 apartments, townhomes and condominiums and would open up 600,000 square feet of commercial space for development at Alameda Point.
Along with housing and commercial space, the project commits about $2.5 million toward rehabilitating and leasing an existing 100,000-square-foot building for light industrial and specialty manufacturing.
Alameda Point Partners has also pledged $10 million toward a new ferry terminal. Called Site A by city officials, the area set for redevelopment is centered around what is called the Seaplane Lagoon and is bordered by Pan Am Way, West Tower Avenue and Main Street.