After almost two decades of laborious planning, back and forth negotiations, and long legal battles, the beginnings of the newest SF neighborhood is finally taking place in the middle of the bay. All 405 square feet of man-made Treasure Island and adjoining Yerba Buena Island are in the works of redeveloping an additional 8,000 new homes, 500 hotel rooms, 300 acres of parks and open space, 140,000 square feet of retail and 100,000 of office space to be built over the next 20 years at a cost close to $5 billion.
The development has already started this spring, and the first housing projects will start construction next year with new residents moving in within 2-3 years. Phase 1 of the project includes up to 2,100 housing units. At a time when job and population growth continue to keep pushing rents and home prices higher, these thousands of homes should bring some relief to residents. Plus, it’s a chance to build an entirely new community and neighborhood from the ground up.
