Alameda will sell another Alameda Point parcel as part of their ongoing efforts to fund infrastructure improvements at the former Naval Air Station.
According to documents from the city, Building 92 is a warehouse of 89,000 square feet on three acres located at 650 West Ranger Ave. The property is located in the adaptive use district.
The city will ask Alameda Point Collective to terminate their lease early in order to clear the way for sale. This homelessness nonprofit signed a 59 year lease for Building 92 towards the end of 2010. The City Council will be asked to approve an $831,470 one-time payment to the collective.
Alameda adopted a "site-by-site" policy in March as a guideline for disposing of buildings on the nearly 900 acres of Alameda Point. It would lease certain properties to raise funds for the maintenance of existing structures, and sell other properties to fund more than $700,000,000 worth of repairs to the infrastructure needed at Alameda Point. The U.S. Navy built the ailing infrastructure of the former naval station, which closed in 1997.
The city officials didn't immediately respond to our request for comment on Friday. Lisa Maxwell told me in the fall of last year that Alameda was likely to seek a minimum $2 million per acre from a buyer of Building 92. In March, a consultant for the city stated that Alameda would seek to maximize its price when selling properties due to the high cost of infrastructure.
The property's interest level will depend on the market. Its sale would mean the transfer to private ownership of a whole block in Alameda Point’s adaptive reuse district. The property is located next to three privately-owned buildings that have been converted into everything from food and beverage businesses to research and development spaces for clean energy manufacturers.
According to Ott's report, the successful sale of Building 92 could lead to additional private investment and attract another business that creates jobs to Alameda Point. The city has stated that it wants to achieve both goals when disposing of its properties.
Ott had previously stated that Alameda hoped to sell its first buildings in accordance with the site-by-site approach within a year of March this past; the city started discussions with APC regarding Building 92 back in February. The city did not specify a timeline Friday for putting the property on sale.