$6B Treasure Island Makeover Could Bring 8,000 Homes

SAN FRANCISCO (AP) – Treasure Island was a tribute to the triumph of modern mankind over nature when it was built on landfill in the middle of San Francisco Bay—a perch that allowed visitors during a 1930s World Expo to catch a glimpse of two newly built bridges on a clear day.

Seventy years later, the 1930s New Deal project is under local control for the first time, and a new generation of residents and planners are pinning their ambitions to the more than 400 acres of underdeveloped land, but they have their critics.

Developers and city officials are finalizing a $6 billion plan to create what they say would be the nation’s most environmentally sustainable full-service community from scratch. It would feature 8,000 new residential units, some set aside for lower-income residents, and hotels, restaurants, retail stores and nightlife.

(© CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)


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