Treasury Island Development Aerial SOM Rendering (Image Source: SOM)
From the Office of the Mayor:

Secretary of the Navy Ray Mabus and San Francisco Mayor Gavin Newsom announced today that they had reached a broad outline of terms for the conveyance of former Naval Station Treasure Island from the Navy to the City’s Treasure Island Development Authority. The terms of the agreement include a guaranteed payment to the Navy of $55M followed by an interim payment of another $50M, plus an additional share of potential further profits.

And from the Chronicle:

The plan is for 6,000 homes to be created through private and public financing. Development partners Wilson Meany Sullivan, Lennar Corp. and Kenwood Investments will stake $500 million with the city providing an additional $700 million in bond money financed by property taxes collected once the development is completed. The initial $1.2 billion will pay for the project’s infrastructure and some of the proposed housing.

Once again, infrastructure work for the SOM designed development of Treasure Island could start as early as 2011 with the first residences ready for occupancy in 2013 and an Island complete by 2022.
Newsom Announces Agreement to Transfer Treasure Island to San Francisco [SFMayor]
City reaches $105 million deal to acquire Treasure Island [SFGate]
Treasure Island: We Have A Plan, So Can’t We Just Have The Land? [SocketSite]
The (SOM) Master Plan For San Francisco’s Treasure Island [SocketSite]
Model For Turning Treasure Island Into A “Green City Of The Future” [SocketSite]

18 thoughts on “Treasure Island: Sold To The Bidder Across The Bay For $105M (Plus)”
  1. Uh this is a man-made island, built on fill. Its gonna take a ton of reinforcement and retrofill to make it safe for housing, isn’t it? Sounds like the costs will soar. Its sort of like a smaller Dubai.

  2. “Its sort of like a smaller Dubai”
    Indeed. It is like “the palm” islands, or perhaps “the world” which is now sinking back into the sea. Completely man made, costly to maintain, and exposed to wind and earthquakes.
    Is it really necessary to put so much housing out there? After the recent bridge closures, one has to wonder about the “logic” of a new community in the middle of the bay. How would ambulances have arrived during the bridge closure? Oh I see, taxpayers would pay for helicoptors to fly in medical assistance for “affordable” housing residents in need. And if the bridge is closed for a period like recently, then we can pay helicoptors to shuttle the elderly to medical appointments. Barges will be required for trash removal and food distribution. All because we need to locate “affordable” housing on an island removed from everyone else.
    Instead of pretending to make this “affordable” I would rather see parcels sold off and a Mercer Island type community created, with the revenue going back to affordable housing in the city closer to jobs and public transportation. Let the rich pay for the priviledge of living on a windswept cold landfill isolated from the urban activity of the rest of the Bay Area.

  3. For what it’s worth, the density proposed is supposed to make frequent ferry service feasible. Not that I’m disagreeing that it currently seems kindof outlandish to build on a man made island in the bay that will take tons of engineering (even without dealing with sea level rise).

  4. Anoncensorious, most of the housing will be market rate. The island is accessible by car, bus, and ferry, so special helicopters and barges won’t be necessary, at least routinely.
    But I agree that housing is not the best use for Treasure Island.

  5. Does anyone believe that the first residences will be ready for occupancy in 2013?
    Does anyone really believe this ever gets built?
    The seismic/structural issues alone make this a very expensive project which it is hard to see pencilling out. Especially with the sharp drop in SF condo prices.

  6. But, Dan, housing is all we know how to make in America anymore. I challenge you to find a higher and better use for any open scratch of land in the US other than condos.

  7. They can do what they want, so long as they build around the rugby club I belong to out there. We spent a lot of volunteer man hours rehabbing the old PX/comissary and converting it into a full clubhouse with bar, home and away changing rooms, shower room, gym, physio room and referee room.
    Not to mention the netball court we put in, the BBQ are a playground for the kids as well as a full size rugby pitch with drainage and regulation goalposts.
    I’m sure the Gaelic football club that has set up shop out there will have something to say as well.

  8. Once again, infrastructure work for the SOM designed development of Treasure Island could start as early as 2011 with the first residences ready for occupancy in 2013, an Island complete by 2022, and abandoned to the seals in 2090.

  9. “How would ambulances have arrived during the bridge closure?”
    By driving over the bridge that links SF to Treasure Island. During the bridge closure residents of TI were allowed access to the western bridge (they were issued special passes from what I was told by a resident of the island). It is only if BOTH bridges are completely unusable would an ambulence be unable to reach TI.

  10. Not gonna happen, this is over the top. Prediction: in 5-10 years, the planners will hit the reset button. This land would be excellent for a new college campus of some kind.

  11. “Not gonna happen, this is over the top. Prediction: in 5-10 years, the planners will hit the reset button. This land would be excellent for a new college campus of some kind.”
    Agreed. So many better alternatives.
    Take a look at the photo – notice that most of th housing faces south/easterly with a view of the non-fill TI. The least desirable view is what most of th proposed housing will have.

  12. I’m an optimist that T.I. will happen, perhaps not in the time frame suggested by the press release, but it will happen. The nighttime views of the City will be spectacular, and once built, those of us in the City will enjoy views of the lit structures on the Island.

  13. Fishchum – I’m pretty sure that the PX structure is doomed, but the development should be open to accommodating your club with replacement facilities. I’d start attending the community meetings and make sure that the decision makers know that your club wants to continue playing on TI.
    The TI redevelopment plan leaves half of the island as open parkland. Accommodating community sports clubs seems like a no brainer.

  14. Milkshake – yep, apparently we’re already on it – we’ve had reps at community meetings and we have a great relationship with the powers that be who run TI.
    With all the drawbacks on problems associated with building new residences, space for community sports programs seems like an obvious choice. I’ve met and known various rugby, soccer and lacrosse players who’s clubs are always struggling to find fields to play on. I’d love it if the city went forward with a giants community sports complex, with enough fields and facilities to accommodate the various citywide amateur sports clubs, much the way Vancouver and Toronto have done.

  15. OneEyedMan’s link is a must read! The SFWeekly article makes me understand that there really is something very wrong with SFGov and nobody seems to offer solutions on how to fix it. I cannot imagine THAT dysfunctional group getting TI going the right direction, or any direction for that matter.

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