INVESTMENT Highlights
Block 10 offers a completely unique, in-fill development opportunity in a brand-new master planned community with luxury apartments, high-end condominiums, a brand new ferry terminal, eight acres of public parks and open space, and panoramic views of the San Francisco skyline.
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Alameda, CA
Alameda Point block 10
Alameda Point Block 10 is an opportunity to build 70 to 88 attached for-sale or for-rent townhomes in a spectacular waterfront master planned community on the island city of Alameda. The Property is located in Alameda Point, a former Naval Air Station that has been transformed into a highly desirable neighborhood with luxury apartments, high-end townhomes, a new ferry terminal with nonstop service to San Francisco, and eight acres of public parks and open space with some of the most striking waterfront views in the entire Bay Area.
Block 10 is a fully entitled, 100% market rate project representing one of the last townhome parcels in Alameda Point Phase I, and will be delivered with utilities stubbed to the back of the curb, allowing for an anticipated construction start in Q4 2025. There may also be an opportunity to build an additional 20 townhomes on Block 1A nearby for buyers wishing to increase the size of the development.
EXECUTIVE SUMMARY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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A Waterfront In-Fill Master Planned Community:
With many people now able to work from home, there is an increasing preference for larger homes to accommodate telework. Residents are moving from urban centers to first ring suburban markets, like Alameda, which was already ranked as one of the best cities to live in California and is now benefiting from a pandemic-fueled shift in housing preferences prioritizing amenities like access to outdoor recreation, school quality and climate.
Flight to High-Quality Suburban Markets:
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Alameda has some of the best public schools in California, with a school district that outperforms Berkeley, San Francisco, Oakland and Emeryville.
Top-Ranked Public School System:
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Block 10 is a 1-minute walk from a brand new ferry terminal, which began service in July 2021 and connects riders non-stop to Downtown San Francisco in just 18 minutes.
Brand New Ferry Terminal:
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Alameda Point is home to a well-educated and affluent population with an average household income of $172,000 and nearly half of the residents (47%) holding a bachelor’s degree. Alameda is also one of the Bay Area’s safest cities, insulated from many other parts of the Bay Area and highly regarded as a quaint island town known for its family-friendly, tree-lined streets.
Strong Demographics and Home Prices:
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Alameda Point Block 10 is an opportunity to build 70 to 88 attached for-sale or for-rent townhomes in a spectacular waterfront master planned community on the island city of Alameda. The Property is located in Alameda Point, a former Naval Air Station that has been transformed into a highly desirable neighborhood with luxury apartments, high-end townhomes, a new ferry terminal with nonstop service to San Francisco, and eight acres of public parks and open space with some of the most striking waterfront views in the entire Bay Area.
Block 10 is a fully entitled, 100% market rate project representing one of the last townhome parcels in Alameda Point Phase I, and will be delivered with utilities stubbed to the back of the curb, allowing for an anticipated construction start in Q4 2025. There may also be an opportunity to build an additional 20 townhomes on Block 1A nearby for buyers wishing to increase the size of the development.
EXECUTIVE SUMMARY
Brett Betzler
Senior Managing Director
949 981 1196
CA DRE #01330214
brett.betzler@berkadia.com
Jason Parr
Senior Managing Director
415 407 2106 CA DRE #01323188
jason.parr@berkadia.com
Scott MacDonald
Managing Director
415 310 0487
CA DRE #01422005
scott.macdonald@berkadia.com
Kaohu Berg-Hee
Senior Director
808 754 0033
CA DRE #01986886
kberghee@berkadia.com
