The California State Lands Commission last week approved an exchange agreement for Naval Air Station Alameda, helping pave the way for redevelopment of the parcel now known as Alameda Point.
The deal call for lands along the waterfront to be placed in the public trust, a first step toward opening public access to the waterfront and attracting maritime commerce. Interior lands under the agreement will be removed from the public trust and allowed to be developed.
“Aside from the conveyance agreement with the Navy, the exchange agreement with the state of California is the single most important regulatory approval needed to move the Alameda Point project forward,” said Jennifer Ott, the city’s chief operating officer for Alameda Point, according to a release from the city of Alameda.
Last year, the city and the Navy struck an agreement to convey the 918-acre property at no cost.
Most of the property at Alameda Point are former tide and submerged lands that are subject to the public trust for commerce, navigation and fisheries, which generally limits the development to maritime-related uses, habitat preservation and scientific study.
Alameda officials expect the initial closing of the exchange under the agreement to occur within six months of the city receiving the first phase of land from the Navy, which is anticipated early next year.