For 40 years Alameda has banned construction of new multi-unit housing—but now the city is requesting proposals from developers for 800 new waterfront housing units at the former Navy base on the island. The new housing will be all apartments and condos, and the development will include ground-level retail, offices, and hotels. A second development nearby will be for corporate campuses or large-scale retail.
“When it’s comp[l]ete, Alameda Point will have about 4,000 residents and 9,000 workers, most of whom would rely on the Webster Street tunnel to get on and off the island. That tunnel is already near capacity, according to traffic analyses. Alameda plans to give free bus passes to every resident and worker at Alameda Point and provide a free shuttle to Oakland’s 12th Street BART Station.” – SFGate
With only 25 homes currently for sale and only 67 sales in the last year, Alameda’s housing has always been scarce, but in the last year the median sales price is up 21.9% to $640,000 (Trulia). Average sale prices in Alameda are still cheaper than most zip codes in San Francisco (comparable to the Crocker Amazon area), but they are almost $200k higher than anywhere in Oakland other than the hills.
The island’s small-town feel, waterfront location, and low crime rates make Alameda a popular choice for families, and the Alameda Point development could be a new draw for tech workers (Google has already signed a lease in the area). Commute options include buses and ferries, and there are two tunnels and three bridges linking Oakland and Alameda for access to BART or freeways.
“Alameda is a beautiful place to live and recreate. There are beaches, parks and tree-lined streets everywhere you turn. During my marathon training, I would drive to Alameda and run along the beach for some of my longer runs,” said East Bay real estate agent Tom Watson. “The recent news that Alameda is once again opening the door to development will certainly help to close the gap between supply and demand for Oakland/Alameda housing. New inventory, whether it’s in Alameda, Jack London Square, or Fruitvale, should be welcomed with open arms!”
For more information about new developments in Alameda and Oakland, contact neighborhood professional Tom Watson at 415.794.1173 or firstname.lastname@example.org.
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