[minesweeper]

Something's finally happening:

Construction starts on massive $6 billion Treasure Island redevelopment

Infrastructure work has begun on the $6 billion Treasure Island and Yerba Buena Island redevelopment, one of the largest mixed-use projects in the Bay Area with 8,000 residential units planned.

A development partnership of Lennar Urban (NYSE: LEN), Kenwood Investments, Stockbridge Capital Group and Wilson Meany started work last week, which will include demolition of 40 existing structures, new roads, utilities and parks. The first phase will include around 2,100 residential units, up to 500 hotel rooms and 90 acres of parks, built on around 45 acres on Treasure Island's western shoreline and the 80-acre Yerba Buena Island.

[...]

Vertical construction of new housing could begin by next year, starting with around 250 townhomes on Yuerba Buena Island, followed by 400 to 500 units in midrise buildings of four to five stories on Treasure Island, said Loke. The entire 8,000 residential units are expected to be built out over the next 10 to 15 years, depending on market demand, said Loke.