A former historic military structure that was transformed into lofts is breathing new life into Alameda Point in California — and setting an example for future developments.
The once vacant building has been transformed into The Storehouse Lofts at Alameda Point, a work/live complex residents offering studio and one-bedroom units. Alameda Point Redevelopers reimagined the site, and it earned a 2025 CoStar Impact Award for Redevelopment of the Year, as judged by real estate professionals familiar with the market.
About the Project: Leasing at the property launched in 2023 after a little more than two years of construction. The project has proven popular as the building is fully leased. Residents have access to the property’s full-service gym, wellness studio, roof deck, dog park, car charging and more.
More than just finding use for a historically significant building, the redevelopment has also had a magnet effect on the otherwise commercial and industrial area, attracting new residents and tenants, including retail, dining and creative endeavors.
Taken together, that activity has added to the revitalization of Alameda Point and spurred economic growth, according to the team that nominated the project.
At the same time, The Storehouse Lofts have highlighted the potential to redevelop other underused structures in the area.
What the judges said: "We need live work and reuse, especially in Alameda," said Haden Ongaro, executive managing director at Newmark.
"Adaptive reuse is always exciting,” Vesa Becam, partner at Keegan & Coppin, said.
They made it happen: Adan Martinez, Grant Wirthman and Ken Schmier are the owners of Alameda Point Redevelopers. Jorge Ruiz of Alameda Point Redevelopers manages the property. Tai-Ran Tseng of Wong Logan Architects, Marc Steyer of Tipping Structural Engineers, Jonathan Mitro of BKF Engineers and Erick Mikiten of Mikiten Architecture are key members of the project's development team.