Mayor Lee Announces First Major Transfer of TI/YBI to City
After years of work by countless individuals, the Treasure Island Development Authority (TIDA) has accepted transfer from the United States Navy of 290 acres of property on Treasure Island and Yerba Buena Island. This is the first of several transfers expected over the next seven years before former Naval Station Treasure Island is fully turned over to TIDA.
“The U.S. Navy’s transfer of land to the City marks a major milestone in the redevelopment and revitalization of Treasure Island,” said San Francisco Mayor Ed Lee. “It’s taken almost two decades to get to this point, and we’re eager to transform this former naval base into a vibrant community with more housing, jobs and economic opportunities for our residents. I thank leaders such as Senator Dianne Feinstein, Democratic Leader Nancy Pelosi, Navy Secretary Ray Mabus, and Lieutenant Governor Gavin Newsom for providing the necessary leadership to undertake this transformative process for our City.”
The transfer opens way for the City and Treasure Island Community Development, TIDA's selected development partner, to begin implementing the reuse plans for the base including the construction of up to 8,000 homes – 25% of which will be affordable; 500,000 square feet of commercial, retail and office space; up to 500 hotel rooms; and 300 acres of open space.