Cypress Equity Investments

CEI is a real estate investment company comprised of professionals who have been executing real estate investment strategies for the past three decades.

by

Trammell Crow JV Achieves Key Milestones At $1B Alameda Waterfront MXU Development

New Seaplane Ferry Terminal In Alameda

“San Francisco Bay Ferry has brought four new high-speed ferries with a combined 1,600 seats to our East Bay services since 2017.”

By Bea Karnes, Patch Staff

ALAMEDA, CA — Alameda held a groundbreaking ceremony Thursday for the new Seaplane Lagoon Ferry Terminal at Alameda Point. This will be the City of Alameda’s third ferry terminal.

It’s located at Ferry Point and W. Oriskany Avenue, and is part of the former Naval Air Station Alameda.

Water Emergency Transportation Authority (WETA) is a regional public transit agency tasked with operating and expanding ferry service on the San Francisco Bay and coordinating the water transit response to regional emergencies. WETA contributed $2 million for the construction of the Seaplane Lagoon Ferry Terminal.

“San Francisco Bay Ferry has brought four new high-speed ferries with a combined 1,600 seats to our East Bay services since 2017. That shows our deep commitment to helping Alamedans cross the Bay quickly and comfortably,” said Nina Rannells, WETA’s executive director. “We’re glad to be able to work with the City of Alameda and its partners to continue to improve ferry service.”

Alameda Point Partners (APP) is a joint venture between Managing Partner Trammell Crow Residential (TCR), the multifamily development company of Dallas-based Crow Holdings, Los Angeles-based developer Cypress Equity Investments (CEI), and San Francisco Bay Area-based commercial developer srmERNST Development Partners.

“The groundbreaking of the Seaplane Lagoon Ferry Terminal is an important investment in The Point, which improves regional access to Alameda, expands Bay Area public transit options, and drives investment in the Base revitalization,” said Stephanie Hill, vice president of development of Trammell Crow Northern California division and a member of APP. “The goal at The Point is to reduce dependency on the automobile and provide Alameda’s residents, businesses, and visitors with a greater range of alternative transportation choices such as public transit, biking and walking.

Alameda County Transportation Commission (ACTC) granted $8.2 million for the construction of the Seaplane Lagoon Ferry Terminal.

“The new Seaplane Lagoon Ferry Terminal will be the centerpiece of Alameda Point’s emerging Enterprise District which is projected to create 5,000 new jobs over the next 10 years,” said Mayor Marilyn Ezzy Ashcraft. “Construction is beginning just one year after the historic, 20-years in the making groundbreaking of The Point. And this summer, we broke ground for the first residential project at The Point, Eden Housing’s 60 affordable apartments for seniors, including formerly homeless veterans, with a view of Seaplane Lagoon. There’s a lot to celebrate at Alameda Point!”

And what does the final blueprint show? A 68-acre master plan development at The Point with 800 residential units and up to 600,000 square feet of commercial space, 15 acres of parks and public open space, and new transportation services and facilities, including the new ferry terminal.