Vertical construction has begun on the first new residences on Yerba Buena (credit: Hayes Davidson).
SAN FRANCISCO—Treasure and Yerba Buena Islands, often referred to collectively as former Naval Station Treasure Island or Treasure Island, are home to approximately 1,800 residents as well as small businesses, restaurants, a grocery store, schools, a boat marina, athletic fields, a special event/film/photo production facility and sporting clubs. But now, a milestone two decades in the making is set to change the landscape of the naturally formed island.
Vertical construction has begun on the first new residences on Yerba Buena Island, according to boutique developer Wilson Meany and real estate investment firm Stockbridge Capital Group. The development represents the creation of 266 residences, part of an approximately $1.5 billion residential and commercial development on the island as a whole.
City supervisors approved plans for the former Navy base and adjoining Yerba Buena Island in 2011. The master project, encompassing both Treasure Island and Yerba Buena Island, is scheduled to take 15 to 20 years and includes up to 8,000 homes, 25% classified as below-market affordable housing, along with commercial buildings, a ferry terminal, and 300 acres of parks, playgrounds and open space.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
