Palmtree Acquisition Corporation (PAC), the developer for Alameda Landing, the former site of the Navy’s Fleet Industrial Supply Center (FISC) is said to be working on a second national retailer to co-anchor Alameda Landing with Target.
A December 2nd staff report to Alameda City Council notes that PAC reportedly signed a letter of intent (LOI) with Target for the sale of roughly ten acres of land at Alameda Landing, on which Target would build a prototypical 139,000 square foot store. Further, PAC is in negotiations with a second, as yet un-identified, national tenant to co-anchor the retail portion of the project. No timelines were provided as to when that second tenant might be announced.
Clif Bar had been planning to build its corporate headquarters at the site, but negotiations fell apart in the fall of 2008. Since then, PAC shifted focus from office tenants to retail tenants.
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Oh no! a company will employ people in Alameda! and provide revenue to the city!
Don’t get your hopes up! It is not here yet! With Alameda’s anti- business procedures and attitutes, we might not live to see the opening.
And add traffic through tubes! Meaning it will take you longer to get to work! And to get home! And the jobs will be mostly low-paying retail jobs! Not higher-paying professional jobs that might employ the educated workforce that lives in Alameda! So the employees will probably live outside of Alameda! And travel through the tubes in their car to get to work! And park their car in one of the spots on the acres of parking that Target typically provides!
And the revenue is minimal! The retail sales tax revenue leakage is estimated to be a mere $410,000 each year, and the City of Alameda is facing multi-million dollar budget deficits!
That’s why we’d like to see Alameda Point developed as a sustainable energy research park! To provide lots of higher-paying professional jobs here in Alameda, for people who live here! 70% of the island’s workforce leaves the island each day to go to work! A focus on jobs – not housing – for Alameda Point, would mean that more people could live and work on the island each day! And if more people lived and worked in Alameda, maybe more of them would take the bus or ride their bike! Instead of driving their car to BART to work in San Francisco! And generate business-to-business – not retail – sales tax revenue, which can grow exponentially relative to population and traffic growth!
http://cbs5.com/technology/Alameda.Primus.Power.2.1336352.html
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/11/05/MNC71AFVT1.DTL
http://www.teslamotors.com/media/press_room.php?id=1539
http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/11/30/daily79.html
http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/03/02/story2.html
http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/10/26/daily108.html
http://sanfrancisco.bizjournals.com/sanfrancisco/blog/2009/07/cleantech_venture_capital_rebounds.html
http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/11/09/story3.html
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/12/09/BU071B0MLH.DTL&type=tech