Alameda Point infrastructure upgrades are estimated to cost $650 million, excluding public benefits such as a sports complex and public library, according to a City of Alameda presentation delivered to the public via webinar on May 18th. The presentation is included in the meeting packet for next Wednesday’s Alameda Reuse and Redevelopment Authority, which oversees conversion of the former naval base to civilian use.
The presentation was intended to convey to the public the basic financial mechanics of base conversion; the first part of the presentation included an explanation of a financial pro forma for large redevelopment projects.
The second part of the presentation broke down the infrastructure costs, based on the 2003 General Plan Amendment that called for 2,000 housing units and 2.3 million square feet of commercial space. The City estimates that site preparation and flood protection would cost $120 million and $170 million respectively. A sanitary sewer system would cost another $55 million.
The total estimate, including these three components, plus others such as parks and open space, dry utilities such as electricity and gas, comes to $650 million. Beyond that, there could be as much as $65 million in additional costs for the planned sports complex, rehabilitated sea plane lagoon, a marina and a library. The full presentation is reproduced below.
On Jun 14th, from 6:30p.m. to 8:30p.m. there will be another City-organized forum, called “Sustainability Planning for Alameda Point” at the Albert H. DeWitt O Club at 641 West Redline Road, Alameda.