ALAMEDA, CA-Industrial Realty Group LLC and Morgan Stanley Real Estate Fund are joining forces to compete against four other teams seeking master developer status in the redevelopment of the 770-acre Alameda Naval Air Station.
Alameda is an island just off the Oakland shore with lots of Victorian architecture, two historic downtowns and two marinas. The tip of its peninsula is attached to the mainland near Oakland Airport, Coast Guard Island and Ballena Isle, and is accessible by four bridges, two tunnels, two ferry terminals to San Francisco and a water taxi to Oakland.
City officials want to see Alameda Point, as the project is called, developed into a mixed-use plan that includes commercial, recreational, high-tech, light-industrial and residential.