Building 24 Talks Move Ahead as Council Funds Stardust Gardens
Council gave its negotiators direction on the seven companies chasing Rock Wall's old hangar, then voted unanimously to commit $1 million a year to supportive housing at the Point.
By The Alameda Pulse
The seven companies in talks for Building 24 at Alameda Point are still in talks. That is the result of Tuesday night's closed session, and it means more than it sounds.
The City Council met privately at 5:30 PM on September 1 to discuss price and terms for 2301 Monarch Street, the 63,000 square foot hangar Rock Wall Wine Company left in 2022. When the council came back into open session, City Clerk Lara Weisiger read the result into the record: "Regarding 4A, which was real property negotiators for Building 24, staff provided information and council provided direction with no vote taken."
In plain terms, staff told the council where the negotiations stand, the council told staff how to proceed, and nobody signed anything. No company was picked. A lease or a sale has to come back to a public meeting for a vote before it is real.
Who is at the table
The agenda names seven parties: American Rail, Apollo Atomics, Bulwark Dynamics, Giga Energy, Marque Ventures Management, MRP Menlo Equities and Paceline Investors. Three of them build things. Apollo Atomics makes compact nuclear power systems, Giga Energy builds modular AI data centers, and Bulwark Dynamics builds autonomous resupply boats for the military. None of the seven has said publicly what it would do inside the building.
This is the second round. Last November the city was negotiating a lease only, with six different parties that included St. George Spirits and Complete Coach Works. Paceline Investors is the only name on both lists, the city's broker has changed from Cushman and Wakefield to JLL, and the terms now read "lease or sale." A sale would take a city-owned waterfront building out of city hands for good.
Two residents used public comment to object before any name is chosen. One raised the "military involved" and AI companies on the list. Another asked, "When do we get to know what the city is doing negotiating in our name?"
What else council decided
- Stardust Gardens gets its money. Council voted unanimously to authorize a commitment letter to MidPen Housing and the Alameda Point Collaborative for an operating subsidy of up to $1 million a year, rising 2.5% annually for twenty years, starting in fiscal year 2028-29. Stardust Gardens is the 80-home supportive housing project at the Point, and staff told council the West Midway homes next door cannot start until it does. The commitment had to be in place before a September 8 tax credit deadline.
- Faction Brewing gets a repayment plan. The brewery at 2501 Monarch Street owed $222,036 in deferred rent, unpaid rent and late fees. Council unanimously passed the first reading of a third lease amendment that sets up repayment and credits the late fees back once Faction finishes its new signage and patio shade structure. Staff said Faction has paid full rent since February.
- DOER Marine stays in Building 41 on a six-month extension while the city prepares to market the hangar. Unanimous.
- The grand jury response goes out. Council approved the city's reply to the county civil grand jury report on emergency preparedness.
One more thing from the dais
In council communications, Councilmember Tracy Jensen said the three restaurants at Harbor Bay Landing have been closed for some time over code violations, and that she had just learned LaVal's Pizza "won't be reopening. It's closed for good." She urged the city manager to keep working with the shopping center's owner and potential buyers. We are checking with LaVal's directly.
Minutes for the meeting are not posted yet. Everything above comes from the city's own recording of the September 1 meeting and the published agenda.
