Alameda City Council to Vote October 20 on Building 11 Hangar Lease with Poseidon Aerospace

The Alameda City Council will vote on Tuesday, October 20, on a long-term commercial lease agreement with autonomous aviation startup Poseidon Aerospace for the historic Building 11 hangar at Alameda Point. Under the proposed seven-year initial lease term, the company would pay the city an average yearly rent of $1.8 million, generating approximately $12.6 million in baseline municipal revenue. The contract also includes two optional five-year renewal periods that would bring in an additional $29 million in lease payments to support infrastructure and public services at the former naval base.

Poseidon Aerospace recently secured $60 million in private investment capital and began moving equipment into Building 11 in August 2026 under a temporary six-month municipal license agreement. Contingent on council approval of the long-term lease, the aerospace firm plans to begin manufacturing pilotless cargo planes inside the waterfront hangar in 2027, creating up to 100 specialized engineering and assembly jobs in Alameda County. As part of the real estate transaction, the City of Alameda will pay commercial brokerage firm Jones Lang LaSalle an up-front commission of $828,905 for securing the industrial tenant.

Activating the massive World War II-era seaplane and aviation hangars along the Oakland Estuary has been a central economic development goal for city officials and base reuse committees for more than two decades. Attracting clean manufacturing and frontier aerospace enterprises to Alameda Point diversifies the local tax base while preserving historic industrial architecture across from the Port of Oakland. Municipal financial analysts noted that lease revenues from Building 11 are reinvested into seawall stabilization, utility modernization, and roadway upgrades throughout the adaptive reuse district.

Regional workforce development boards and East Bay technology leaders view the expansion of autonomous cargo aviation at Alameda Point as a significant boost for the Bay Area industrial corridor. By assembling pilotless freight aircraft designed for regional logistics, Poseidon Aerospace joins a growing cluster of maritime, clean-energy, and robotics companies operating along the Alameda waterfront. Council members will review environmental compliance provisions, noise restrictions, and brokerage fee schedules before casting their vote on Tuesday evening.

Alameda residents and business stakeholders can examine the complete Building 11 lease agreement, financial analysis, and Tuesday, October 20 council agenda on the municipal website at alamedaca.gov. Public comments may be delivered in person at Alameda City Hall on Santa Clara Avenue or submitted electronically via Zoom and email to the City Clerk department at (510) 747-4800.