Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FREMONT, CA-The Oakland City Council has approved the development of a housing complex on the land that it has been considering for the development of a new stadium for the Oakland A’s.

This week, the Oakland City Council instructed City Manager Robert Bobb to initiate an exclusive negotiating contract with a Cleveland developer to develop an 807-unit housing complex in uptown Oakland. This site was previously determined to be the best location for a new Oakland A’s stadium by HOK Sports, a design firm that built the famous Pac Bell Park in San Francisco.

The housing development increases the chance that a ballpark may be built in Warm Springs, instead. The Warm Springs site is located on a 105-acre parcel between Fremont Boulevard and the Union Pacific Railroad tracks.

However, the Warm Springs site also has competition from a second Oakland site. HOK rated the Howard Terminal behind the Warm Springs site and a new site at the Oakland Coliseum. The Oakland A’s have expressed their desire to move away from the Coliseum and may be more receptive to an Oakland site than a Fremont site. In addition, the Fremont site has an approximate price tag of $465 million, which could be too steep for the A’s without public financing.

Meanwhile, the Oakland A’s is working with the city to extend a lease that will allow the Oakland A’s to play at the Networks Associates Coliseum for at least five more years.

Alameda County Supervisor Scott Haggerty brokered the lease extension proposal. It seeks to extend the lease through the end of the 2007 baseball season, a time period chosen because it is the amount of time needed to build a facility made for only baseball.

Under the proposal, the A’s would pay rent for their use of the coliseum, with a base established at $450,000 a year plus 50 cents for every ticket above 2 million sold. The proposal also includes an escape clause, which would allow the A’s to leave their lease with only 90 days notice, as long as they pay off the remaining lease payments plus $250,000. The authority approved a five-year lease with three one-year extension options. The approval is contingent on further negotiations on the terms on the lease.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.