Although not very imaginatively chirstened, Alameda Landing is the 1.3 million square feet of property located along the Alameda/Oakland estuary in Alameda’s west side. A large portion of the property faces Jack London Square and the Port of Oakland.
The city has ambitious plans to convert this space into a mixed development of residential, retail and office space (the plans also include an open park). As has been mentioned earlier, Alameda suffers from a significant amount of revenue leakage due to the limited retail opportunities on the island. A recent study estimates that 27% ($260m) of the retail dollars were spent elsewhere.
Projected 2006 retail leakage ($million):
- Automobile Dealers: $105.5
- Discount Stores: $43.2
- Furniture and Home Furnishings: $31.9
- Specialty Apparel: $28.9
- Household Appliance and Electronics: $11.5
- Specialty Retail and Specialty Foods: $7.4
The proposed retail stores will primarily consist of the above categories (there are no plans to include any automobile dealerships or discount stores). The city planning board recently approved the master plan for the project, and the wheels are in motion. This project augurs well for Alameda and has the potential to plug the retail revenue leakage.
Additional information (including project renderings) are at the Alameda Landing website.