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New Treasure

The evolution of Treasure Island from Navy base to housing development took a big step forward today with the hand-off of 290 acres from the U.S. Navy to the City of San Francisco. The transfer is the first of several, and the path is now open for developers Lennar Urban and Wilson Meany to start building infrastructure and streets in the next year. Construction on the first 500 housing units is expected by 2017. If all goes according to plan, over the next couple of decades Treasure Island will have residential developments, a hotel, a market hall, and a ferry building. [SF Business Times/Photo via Lennar Urban and Wilson Meany]