Lubin Olson congratulates Bay West Group for their Real Estate Deal of the Year achievement

Lubin Olson congratulates our clients, Bay West Group and Pacific Development, Inc., for their achievements at this year’s San Francisco Business Time’s Real Estate Deals of the Year award ceremony on March 28, 2024. Their project, the Launch at Alameda Marina, is a 368 unit multifamily rental project that is the first building to deliver as part of the larger Alameda Marina Master Plan, which has been in the works for over a decade.

LAUNCH @ Alameda Marina is the first phase of a massive redevelopment of a 44 acre historic World War II Shipyard along the Oakland Estuary. The project overcame numerous challenges involving industrial site conditions, sea-level rise, a difficult political climate, initial opposition from multiple neighborhood organizations, historic and cultural sensitivities, and negotiations with multiple agencies asserting their jurisdictional authority. The project involved the rezoning from Industrial to Mixed-Use Multifamily on an island which previously prohibited multifamily (Measure A). The project sponsor worked with the City of Alameda to execute a 66-year Tidelands and Marina Lease agreement, which requires that the entire site be protected from end of century sea level rise. The master development constructed a ¾ mile long seawall at a cost of $35M. The project involved 13 different agency approvals, including approvals from the US Army Corps of Engineers, the Bay Conservation and Development Commission, and the Alameda County Department of Environmental Health.

Lubin Olson attorneys Charles Olson and Carolyn Lee provided their advice and counsel throughout the entitlement process of this multi-phase project. Mark Lubin, Beth Anderson, Lorraine Madera, Audrey Baker and Leon Tuan advised our clients in matters related to the project’s acquisition, financing, commercial leasing and joint venture formation.

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