Treasure Island Development Finally Begins

After over a quarter century of planning and seven years of infrastructure development, San Francisco’s Treasure Island neighborhood is finally taking shape. One of the project’s signature elements—a 22-story apartment tower—topped out in July, and new structures, parks, and public amenities are under construction on the 405-acre landfill site, and on adjacent 300-acre Yerba Buena Island. The forward moves are taking place at the same time that the project’s main developers are suing each other and the Bay Area’s urban housing market has softened. The project's primary developer and funder, Wilson Meany and Stockbridge Capital are jointly involved in lawsuits and countersuits against a second developer, Kenwood Investments. The disputes center on the project’s anticipated profits, which are likely far lower due to current economic conditions than they were in 2016, when the project broke ground. And yet, demand for the project’s 8,000 housing units – a significant number in the housing-starved Bay Area – is likely as high as ever.

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