CBS TV San Francisco
May 11, 2015
A new development plan is taking shape at Alameda Point that will bring affordable housing to the area.
The views from the area will take your breath away, but developers say the cost to live there won’t.
“Twenty five-percent of the housing is going to be affordable. The very low units will start in that $800-1,000 range,” Developer Bruce Dorfman of Thompson Dorfman Partners said.
Bruce designed the homes , making 200 of the 800 units affordable for renters.
Some of the homes will be sold, and others will be available for market rate as rentals.
“This project will have market rate units, moderate income, very low income – and we see that as a very important piece of the project,” Jennifer Ott, COO of Alameda Point said.
Ever since the Navy abandoned Alameda Point in the nineties, the city has struggled to finalize a development plan.
Two other master plans have failed, but the city took the helm by hiring the developer this time, and the planning commission agreed with their choice Monday night.
Developers envision the 68-acre area as more than just housing; they want to create a new town.
“Parks, retail, waterfront activities,” Joe Ernst of Ernst Development Partners said.
The project could take as long as 10-15 years.