The City of Alameda Wednesday announced that it has reached an agreement with the U.S. Navy to transfer all 918 acres of the former Naval Weapons Station free of charge
The price on that property had been set, most recently, at $108.5 million.
City and Navy leaders will host a press conference Thursday afternoon at to explain the transfer.
"After many years of the often stalled process, this is a landmark turning point for the City of Alameda," said a press release from the city.
Alameda blogger Lauren Do wrote about some of the specifics of the deal in a blog post Wednesday, noting that the deal grew out of discussions initiated by the city with the Navy for transfer of the land for a for the Lawrence Berkeley National Laboratory. (Here is the city's report about the deal.)
Alameda Mayor Marie Gilmore, U.S. Navy Commanding Officer James Ridgway, the Navy's William Carsillo, and City Manager John Russo will be at the Thursday afternoon event.