On Saturday I swung by the Tri Pointe home first phase sale at Alameda Landing. We got out a bit late because there were some disagreements about shoe tying. So I think we hit the sales office at around 11:00 a.m. and saw a friend at the sales office. It was super crowded but we hustled through and started looking through the models which were open for the very first time. We only got through one of them when we were told that the rest were being “locked up” and that we could only tour them if we had one of the sales agents come through with us. Apparently they aren’t officially open yet and had only been opened for the release of 14 home sites that day.
Anyway, what I did see, Residence 1, complete with optional third story pop up, was pretty nice. The developer is clearly catering to folks with some bank because there were really nice finishes throughout and they had installed a Bertazzoni range in that model home which I’m sure does not come standard, but is a beautiful piece of equipment.
After we were not allowed to go in the other units (boo!) we talked a bit with our realtor friend who was still hanging around. She told us that they had already done the release and sale — through a lottery which I am very very familiar with — and that all but one unit had been snatched up. The prices ranged from a low of $550,000 for the two-bedroom, single story condo to a high of $1,055,000 for the Residence 4 which tops out at 3364 sq ft. Amazingly enough it wasn’t the Residence 4 which was left over, but one of the Residence 2 models. Our friend said there were a lot of people there for the lottery, but that they clearly had specific models in mind that they wanted because a good number of people passed rather than just take any available unit. Since the price points differ from the condos to the single family homes there probably wasn’t a ton of cross over between people who wanted one model as opposed to the other.
I have a price sheet if anyone is interested in the breakdown by site number. If no one is interested, I’ll save myself the typing.
Blogging Bayport Alameda 
Is there a flip penality? Considering what you’ll get in SF this seems attractive.
Comment by Basel — November 25, 2014 @ 11:08 am
I don’t think it would be legal to have a flip penalty. Things happen in peoples lives and they need to sell. One of my neighbors company was sold and they had to move to the East coast, but they didn’t know at the time.
I am surprised they didn’t allow you to go into the other units as a lot of new developments are sold by word of mouth. I wasn’t really looking at Bayport until a friend I worked with told me to go look. We were actually looking in Walnut Creek. My favorite house was in Livermore but the commute was to far.
If you don’t let the people see the models you are loosing a lot of possible sales and higher prices. A $550,000 for a 2 bedroom condo is a lot because after you add wood floors, or anything over the basic cost you are probably talking $600,0000 or more. The houses would have probably sold for more if they hadn’t built a Target there. It is sort of hard to picture what it will look like when everything is done. I sort of see a mix of Grand Marina and loft apartments. Grand Marina sold out fairly quickly so these probably will also.
Does anyone know what they will do with the old Navy housing that are boarded up behind the Coast Guard housing…it is latterly falling apart?
Comment by Jake — November 26, 2014 @ 2:03 pm