San Francisco’s Treasure Island opens 1,000 homes after 25-year delay

New apartments and condominiums are opening on San Francisco’s Treasure Island and Yerba Buena Island, a 576-acre former U.S. Navy site that was abandoned in 1997. Eight new buildings now contain about 1,000 homes, while developers plan another 7,000 units for an eventual population of about 18,000. More than 300 acres are reserved for parks and open space, but completing the plan could take until at least 2040. The project took more than 25 years to produce its first homes because of lawsuits, public opposition, extensive infrastructure requirements and debates over affordability and density. Residents include buyers paying as much as $3.2 million, renters who moved to reduce housing costs, and formerly homeless and veteran residents in subsidized housing. Supporters call the redevelopment a success in a housing-starved city, while critics say its planned density is far below what the islands could support. Additional challenges include traffic, parking, sea-level rise, earthquake safety and San Francisco’s costly building requirements.

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