Blogging Bayport Alameda

October 7, 2013

The Developers are coming

Filed under: Alameda, Alameda Point, Business, City Council, Development — Lauren Do @ 6:07 am

At next week’s City Council meeting on the agenda are two Closed Session agenda items regarding Alameda Point.

3-A 2013-196 CONFERENCE WITH REAL PROPERTY NEGOTIATORS (54956.8)
Property: Alameda Point
Negotiator: John Russo, City Manager
Negotiating party: Charles Company
Under negotiation: Price and terms of payment

3-B 2013-195 CONFERENCE WITH REAL PROPERTY NEGOTIATORS (54956.8)
Property: Alameda Point
Negotiator: John Russo, City Manager
Negotiating party: Debartolo
Under negotiation: Price and terms of payment

So, here’s the weird thing, the zoning has yet to be completed for Alameda Point, we’re still in the EIR stages and more importantly the zoning hasn’t yet been completed for Alameda Point (see what I did there) but yet we’re already talking to developers about “Price and terms of payment”?  Yay?

I suppose this would be good news if we knew what would go where so we would have some clue at what these two companies are potentially bringing to the table, but right now since nothing is really “fixed” except for nebulous ideas of “we know we sort of what something like this to go here” it’s a bit alarming.

The first company Charles Company is some outfit out of Beverly Hills, but don’t get too excited because the Beverly Hills address maybe the only fancy thing about it.    The most current project I can find is a project called the “Gran Plaza Outlets” in Calexico on the border of California and Mexico.   It is essentially an outlet mall albeit one that is being billed as an “upscale” one.  The Charles Company website sucks and nothing works so don’t even bother.  In searching through some articles with the name of the CEO of Charles Company I turned up quite a few referencing his involvement in local politics where he has projects or current developments.

The second company Debartolo I believe is this one.  And if it is this one, then it is the Debartalo family you are thinking about.   It appears that this company does a mix of uses but has typically concentrated their efforts in Florida and Arizona.   There’s only one California retail project in Vista and is pretty typically strip mall.

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6 Comments

  1. Debartolo specializes in distressed properties. They’ve come to the right place. They recently completed a 42-story highrise in downtown Chicago, so it looks like they have adequate capital. Maybe the opportunities look so good at Alameda Point that they don’t care about the fine details like whether we go with Option 1 or Option 2 on the Town Center Waterfront Plan. Maybe there will be lots of escape clauses (for both parties). One thing is for sure: We’re going to find out real soon – like next year – what “pencils out” and what doesn’t.

    Comment by Richard Bangert — October 7, 2013 @ 7:10 am

  2. I think it’s a good strategy to be on a dual tract (working on entitlements while engaging developers). This way, we’re certain that what we’ve entitled is something that can be developed.

    Comment by Karen Bey — October 7, 2013 @ 7:37 am

  3. DeBartolo just celebrated the grand opening of Phase 1 of their Summerport Village Development in Florida in July of this year. A Class “A” resort style theme community is being planned, and they have plans for a mixed use regional center in Kapolei, Hawai.

    I like this developer already!

    Comment by Karen Bey — October 7, 2013 @ 7:57 am

  4. I hope most young and/or renting Alamedans can make enough money from a class A resort development as waiters, caddies, bellboys and massagers to the rich to be able to afford to living somewhere nearby. Maybe San Leandro or East Oakland….

    Comment by Jack Mingo — October 7, 2013 @ 8:25 am

  5. 5. You’d make an adorable bellboy, Jack!

    Comment by Denise Shelton — October 7, 2013 @ 9:14 am

  6. Damn, I did it again. 4. Sigh!

    Comment by Denise Shelton — October 7, 2013 @ 9:14 am


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