The city and the Alameda Redevelopment and Reuse Authority want to convert the 770-acres property into a multi-use project that would include affordable housing, commercial, R&D/business park, water-oriented activities and recreational facilities. "It's where most of our city's growth will take place in the future," says Alameda Mayor Ralph Appezato. "Situated on the bay, with outstanding view of San Francisco, it's some of the finest real estate in the Bay Area."

Alameda, which consists of a main island just offshore from Oakland and directly across the bay from San Francisco, plus the tip of a peninsula attached to the mainland near Oakland Airport, Coast Guard Island and Ballena Isle, is accessible by four bridges, two tunnels, two ferry terminals to San Francisco and a water taxi to Oakland.

The city is home to charming neighborhoods of Victorian architecture, two historic downtowns and marinas. In the late 1980s, the 205-acre Marina Village mixed-use project was developed with 1.1 million-sf of office space, a 125,000-sf retail shopping center, 178 town homes and a marina. In addition, the peninsula portion of the city, named "Bay Farm Island," consists of more recent residential development, the Harbor Bay Business Park and a 36-hole municipal golf course.