SAN FRANCISCO (CBS SF) – A San Francisco Board of Supervisors committee on Monday approved a $1.5 billion project to transform Treasure Island, and the full board could vote on the proposal in two weeks.

The board’s Land Use and Economic Development Committee voted in favor of the proposal, which would add up to 8,000 residential units, up to 140,000 square feet of commercial space and as much as 100,000 square feet of new office space, as well as new and upgraded roads and infrastructure, including a new ferry terminal.

The city has been working to redevelop the 404-acre island in the middle of the Bay since the U.S. Navy closed its base there in 1997.

The island, constructed by the federal government in the late 1930s, requires extensive seismic retrofitting and flood protection.

Opponents have argued among other things that the project will add to what is often already heavy traffic on the Bay Bridge.

The committee forwarded some of the financial items in the agreement to be approved by the board’s Budget and Finance Subcommittee on May 11, according to Alisa Somera, the committee’s clerk.

The full board could consider the project as soon as its meeting on May 17.

(Copyright 2011 by CBSSan Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services may have contributed to this report.)

Comments (3)
  1. JerryMC says:

    What is comical is when TI was being relinquished by the Navy, it had to go throw several layers of agencies to see who wanted it. First federal agencies got first pic, then state agencies, including the UC System. During that entire process, City Officials claimed the island was seismically unsafe, it couldn’t be built on. Then, the City got the island and their tone changed. The plan earmarks $143 million for seismic upgrades & raising the seawalls for future sea level rise. As a Geo Ocean major, $143 Mil is NOT going to protect TI all that much. It is landfill on bay fill on bay with little bedrock support. I can’t see any insurance carrier offering homeowners/renters quack insurance. In a decent quake, lasting a minute, the liquefaction of the soil will be significant. Japan just learned this the hard way. The other issue is where will the funds come, in a City facing continued deficits, to hire new Police/Firefighters and provide City services. Economically, it costs significantly more to provide services to a residence than to a strip mall. So, at $1.6 Bil, I can only imagine the City will try to sell Bonds, which are NOT selling in today’s climate, raise Prop Taxes on existing residents & finds some other tax base system to help defray the costs.

  2. Schmendric says:

    It would have made a lot more financial/geological sense to turn the island into a park and charge admission. The park could include picnic grounds, playgrounds, volley ball courts, tennis courts, etc. Perhaps some eating facilities. But for the considerable development that is being planned, it will take huge numbers just to prep the place for substantial building. Long term, it could result in a fiasco.

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