SAN FRANCISCO | Treasure Island/Yerba Buena Island

[CyberEric]

Very exciting and surprising news. I hope this turns out to be a great project.

My biggest concern is that it's being built on a man-made island and could be under water if the Bay rises.

[rocketman_95046]

Originally Posted by CyberEric

Very exciting and surprising news. I hope this turns out to be a great project.

My biggest concern is that it's being built on a man-made island and could be under water if the Bay rises.

if the bay rises much, this will be the least of our concerns.

[Dylan Leblanc]

Here's a video which talks about some of the symbolism of the Sun Tower, among other things.

• Video Link

[flight_from_kamakura]

no offense, dylan, but that's one of the most ludicrous things i've ever seen. we literally laughed the whole way through. excluding the many plain factual errors and absurd assumptions, there's nothing even remotely useful there. the only thing missing was a conspiracy about the events of sept 11th.

anyway, on the realism side of things, my friend on treasure island just got a pamphlet or something trying to organize people there against the whole project, which is to say that we'll see if this thing doesn't get caught up in the sf development vortex.

[murrax]

A BART extension to the island would alleviate traffic on the bridge

[homebucket]

From the SJ Mercury:
http://www.mercurynews.com/science/c...ise?source=rss

"At risk over the next generation: low-lying areas such as San Francisco and Oakland airports, Treasure Island, Alviso in San Jose and low-lying communities such as Foster City and Redwood Shores, particularly during winter storms at high tide."

Have there been any other updates on this project since the board approval in 6/2011? Is this news (or old news, rather) going to affect the project in any way? Has the grading and seawall infrastructure work been completed yet? (See BTinSF's post #61)

[minesweeper]

Lennar may turn to China to jump-start the Treasure Island project:

Chinese in Talks to Fund U.S. Homes
State Bank in Talks to Provide Lennar $1.7 Billion for Two Long-Stalled Projects
By DINNY MCMAHON and ROBBIE WHELAN, June 25, 2012

Lennar Corp., one of the U.S.'s largest home builders, is in talks with the China Development Bank for approximately $1.7 billion in capital to jump-start two long-delayed San Francisco projects that would transform two former naval bases into large-scale housing developments, according to people familiar with the discussions.

The negotiations aren't final and the financing arrangement could still fall through. But if completed, the deal would reflect a changing dynamic between the U.S. and Chinese economies, as an American company turns to China for help funding a long-delayed and partially publicly funded project that otherwise wouldn't get done.

The developments, Treasure Island and Hunters Point Shipyard, also have the potential to alter San Francisco's housing market by providing nearly 20,000 new homes, a sports arena and millions of square feet of office and retail space in a market that is land-constrained and has had limited new construction. The city has committed hundreds of millions of dollars, in the form of tax-increment bonds, to the projects, which in total are expected to cost $10.5 billion over the next few decades.

[San Frangelino]

From The Bay Citizen

Treasure Island development plans inch forward
But significant hurdles remain, including loans from China and environmental lawsuit

By MATT SMITH AND KATHARINE MIESZKOWSKI on December 3, 2012 - 12:01 a.m. PST

After a decade of delays, San Francisco is taking concrete steps toward turning the former sandbar known as Treasure Island into a $1.5 billion condominium community.

However, obstacles remain for the project, a top priority for three of the city’s mayors. Barriers include political uncertainty about a bid for loans from the Chinese government, a pending environmental lawsuit, and residents’ worries about the U.S. Navy‘s cleanup of toxic and radioactive waste at the former military base.

Continue Reading...

[timbad]

Chron today had a little blurb about this:

Big sit-down the other night at the 5A5 Steak Lounge on Jackson Street to try to seal the mega-development deal that Mayor Ed Lee hopes to sign on his upcoming trip to China.
At issue: finalizing a $1.7 billion deal with China Development Corp., the Chinese national railway and Lennar Corp. to construct 12,500 homes on the Hunters Point Shipyard and a string of high-rises on Treasure Island.
...Rose Pak's setting up the mayor's trip to Beijing at the end of March.
...
"We're trying very hard to time it so that my arrival is for a celebration rather than more negotiations," Lee said Friday....

[theskythelimit]

Loos like the Chinese are out. Deal collapses and no deal signed.

http://blog.sfgate.com/matierandross...t-ti-collapse/

[fflint]

So Mayor Ed Lee comes home to San Francisco from his expensive junket to China bearing very, very bad news.

Meanwhile, across the Bay, Jean Quan stays home but gets to announce very, very good news from China...

[theskythelimit]

Originally Posted by fflint

So Mayor Ed Lee comes home to San Francisco from his expensive junket to China bearing very, very bad news.

Meanwhile, across the Bay, Jean Quan stays home but gets to announce very, very good news from China...

Quite ironic indeed. But, having lived in China, I learned not to take their word for it. I would not be surprised to see the Oakland deal to fall through. But then again, Oakland is known for giving away the store and would concede anything the Chinese want. At least Learner stood by and did not sign away their rights. I would like to see a US financial institution to step forward but that is wishful thinking.

[fimiak]

The Chinese firm had tax problems and wanted a lot more control of Treasure Island than the developer was prepared to give. I think this result is probably better in the long run for SF Bay than if the island's future was handed over to foreign investors without checks in place.

[biggerhigherfaster]

Meh, I never thought the Treasure Island project was such a good idea. Building skyscrapers and 5-10k housing units mixed with "urban farms" on landfill that is relatively unhabited at the moment and trying to minimize/eliminate cars...while providing limited transportation options to/from the island? Seemed more like a pipe dream for city planning academics than anything else

Didn't seem like the brightest idea. Imo, Treasure Island should remain mostly parkland with some housing. If we want dense development, it should be in SF or Oakland

[ozone]

They should just turn it into a huge festival, sports and park land. Imagine Burning Man back in the City. Wind yes but more excessive heat or playa dust. Seriously though I've always thought TI's density should be maximized. Parks yes, farms no. I know nothing about the proposed financing or the who has the rights to the land but if the developer can't deliver the product can city force them to hand it over to one that can? Hell why not hand it over to Chinese investors?

[mthd]

Originally Posted by biggerhigherfaster

Meh, I never thought the Treasure Island project was such a good idea. Building skyscrapers and 5-10k housing units mixed with "urban farms" on landfill that is relatively unhabited at the moment and trying to minimize/eliminate cars...while providing limited transportation options to/from the island? Seemed more like a pipe dream for city planning academics than anything else

Didn't seem like the brightest idea. Imo, Treasure Island should remain mostly parkland with some housing. If we want dense development, it should be in SF or Oakland

not sure which part is a bad idea. building on available land, which is currently underutilized, maximizing sustainability, or providing a mix of land uses?

there would be direct (and short!) ferry service to within walking distance of hundreds of thousands of jobs in downtown san francisco and access by bus and private automobile bypassing most of the morning rush hour at the toll plaza and macarthur maze.

the developers involved surely don't think it's a pipe dream - remember that this master plan was not created by the city planning department. it was created by a developer.

[peanut gallery]

It seems the final legal hurdles have been overcome and this should get started late next year. A few snippets from a thorough update of the project from the SF Business Times:

But the Treasure Island project has been mired in lawsuits — until now.

After the state Supreme Court finally punted Wednesday on a major lawsuit brought against the Treasure Island redevelopment by a group called Citizens for a Sustainable Treasure Island, led by former Supervisor Aaron Peskin.

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The city still needs to officially acquire the land from the Navy, which will happen by the start of next year now that the Navy has completed environmental cleanup there, Treasure Island director Bob Beck said.

The team of developers – including Wilson Meany and Lennar Urban – then plan to start work on the demolition and infrastructure on the former Navy site by next fall. Once it's fully completed in about two decades, the full site will include 8,000 residential units, 235,000 square feet of retail, public parks and 500 hotel rooms. One-quarter of the housing units will be affordable.

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That first phase will include the site's portion that sits on Yerba Buena Island and the part of Treasure Island that borders Clipper Cove. It will include about 500 housing units and retail space.

[peanut gallery]

This continues to progress. As foretold last Fall, the Navy has transferred ownership to the city. From the SF Business Times:

The slow transformation of Treasure Island from a Navy base to San Francisco’s largest housing project turned a tricky corner on Friday when 290 acres traded hands from the U.S. Navy to the city.

The exchange allows for developers Lennar Urban and Wilson Meany to start building infrastructure and streets by next year and construction on the first phase of 500 housing units around Clipper Cove by 2017. Treasure Island and adjoining Yerba Buena Island will eventually have 8,000 housing units (one-quarter to be priced as affordable), retail and 300 acres of parkland.
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The Navy base closed in 1997, and the island now has about 2,000 residents and 160 commercial tenants. Land will continue to transfer from the Navy over the next seven years. The Navy will get $55 million over the next 10 years from the city and Treasure Island Community Development.

If all goes right for Lennar and Wilson Meany, over the next couple of decades (even during economic downturns, they say) the former base will be transformed. The development includes plans for houses, a hotel, shared streets and walkways, a market hall and a new ferry building. The developers must get each subphase of development approved before moving forward.

[SLO]

Wow, so this must be the first addition to the city of San Francisco, since when?

[WildCowboy]

It's not an addition to the city...the city is just gaining ownership of it. Even under Navy ownership, it was part of San Francisco.