You're correct. Intially, cast concrete raises the pH. It will tend to raise the pH in water until it's close to 12 in newly cast concrete.
From a Dr. with a PHD in Concrete Analysis:
The pH level is a measure of acidity or alkalinity, on a scale of zero to fourteen, with zero being most acid, fourteen being most alkaline and seven being mid-range.
Regular concrete has a high pH when it is first cast. This is caused by excess calcium hydroxide in the concrete. Calcium hydroxide is a hydration byproduct which typically has a surface pH of around 12 for normal concrete when cast. Over time, in water, the calcium hydroxide slowly leaches out. Eventually, the pH of the concrete will approach the pH of the sea water which is about 8.3. How long is dependant on the pH and disolved ions in the water and the thickness of the cast concrete.
Cheers, Bill