Title
Discussion of Use Priorities for Alameda Point: Buildings 41, 92, 24 and 11
Body
To: Members of the Mayor's Economic Development Advisory Task Force
From: Abigail Thorne-Lyman, Director of Base Reuse and Economic Development
EXECUTIVE SUMMARY
On October 17, the City Council directed staff to hold a study session on priorities for upcoming Alameda Point leases. In anticipation of an early 2024 study session with the City Council, Staff is seeking feedback from the Economic Development Advisory Panel (EDAP), to ensure the Council weighs the expertise of the Alameda business community in their discussion of possible future uses at Alameda Point. This item builds upon the study session held at the March 7, 2023 City Council meeting, which focused on the City's Disposition Strategy for the Alameda Point Reuse Area.
Staff seeks the feedback from the EDAP to inform recommendations to the City Council on the City's priorities in the future selection and negotiations for the lease and/or sale of Alameda Point Reuse Area properties over the next 18 to 24 months, including Buildings 41, 92, 24 and 11, as well as developable property near Building 92 (see Exhibit 1 for maps of the Reuse Area and Exhibit 2 for numbered buildings).
BACKGROUND
At its October 17, 2023 meeting, the City Council considered and rejected a potential lease of Building 11 in the Alameda Point Reuse Area to Science Corporation, a life sciences company. The Council's adopted motion provided direction to staff to hold a study session on upcoming Alameda Point leases. Based on the discussion in this meeting, staff has interpreted the Council's direction for a study session to focus on desired and discouraged uses related to the upcoming lease and sale of buildings in the Reuse Area.
In late 2022, staff retained Keyser Marston Associates (KMA), a real estate economics consulting firm, to undertake an analysis of the real estate assets at Alameda Point specifically within the Reuse Area, ...
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