Alameda Landing grounded?
By now I’m sure most of you have heard the news about the CEO of megadeveloper ProLogis quitting and the company halting all development as its shares have plummeted and the credit market has dried up. And I wondered, how will this affect development of Alameda Landing?
I’ve been checking in with the company for nearly two weeks now – which owns Catellus, the company slated to develop the Landing – and I’m sorry to say I don’t yet have an answer.
Prologis spokeswoman Jessica Crow told me the company “will continue to support Alameda Landing,” but she was still waiting to hear from senior management about what, exactly, that means.
In the interim, the company has halted all development starts and new land acquisitions; the Oakland Tribune just reported that it pulled out of the running for developing the Oakland Army base.
I’ll have more on this for you as soon as I get it.