From TRD New York: San Francisco: Developer snags extra funds to save megaproject
A local city council and developer managed to salvage plans for the redevelopment of a 68-acre former naval base on Alameda Island on the San Francisco Bay, according to reports.
Early last month, the Alameda City Council agreed to provide developer Alameda Point Partners with $93 million for construction costs and infrastructure improvements, the Alameda Sun reported. Additionally, the developer will set aside 70 housing units for teachers and other employees of the Alameda Unified School District. The school district will pay $25 million to cover the cost of those units and oversee construction, recouping the investment through rents, according to the East Bay Times.