Pacific Development partners with PGIM on Alameda housing project

A partnership between Pacific Development and PGIM Real Estate will bring more than 300 residential units to the Alameda Marina, according to a press release by the two ventures. The development is part of the larger Alameda Marina Master Plan. 

The project, named Launch, at 1777 Clement Avenue is one of the few developments of its size to come to Alameda in the last 50 years, according to the release. Launch is 500,000 total square feet and includes 368 residential units in a five-story building. The structure will offer views of the Alameda Marina, as well as the Oakland and San Francisco skylines. Other amenities include two rooftop decks, pool, fitness center, coworking lounge and a dog spa. 

Launch represents the first half of the Alameda Marina Master Plan. The development project looks to bring 1.2 million total square feet of mixed-use development across 44 acres. Part of that development includes 760 new residential units with 104 affordable housing units, 3.6 acres of public parks and a 9,250-square-foot paseo connecting the city to the marina. Future plans for the marina will feature more residences with studio, one- and two-bedroom apartments. 

The Alameda Marina isn’t the only part of the city in the middle of a large development. The former naval air station is in redevelopment into 568 units of housing. The land was previously owned by the The Housing Authority of the City of Alameda in the 1940s before being occupied by the U.S. Navy for decades. The Navy donated the land to the AHA in 2019. 

Most recently, an affiliate of AHA, Island City development, was awarded a $21 million grant to build 64 senior living units on the site. The agency has said that 25 percent of the project, or 16 senior units, will be reserved for veterans in need of supportive housing.

These large development projects are part of the reason that Alameda was the first Bay Area city to have its housing element certified by the state as “substantially compliant.” The city was deemed compliant back in November, while all but three cities failed to meet the Jan. 31 deadline set by the Department of Housing and Community.  

Pacific Development is based in Alameda, while PGIM is based in New Jersey.