Treasure Island | San Francisco Public Press

Economy & Business

Homebuilder Lennar uses federal taxpayer funds to balance its books

07.06.2010

By Christopher D. Cook, Project editor, City Budget Watchdog

In 2006, things were looking good for Lennar, America’s second-biggest homebuilder. That year, before the U.S. housing market’s epic collapse, the Miami-based giant pulled down $15.6 billion in revenues and closed sales on 29,568 homes. The ink was just drying on a massive and potentially lucrative deal to transform Treasure Island with new housing complexes, and the well-connected Lennar already had secured a deal to develop the Hunters Point Shipyard that the Navy was turning over to San Francisco.

Housing

Treasure Island residents face choices for relocation

07.06.2010

By Katy Gathright, Intern

Residents of Yerba Buena and Treasure islands are divided on the relocation plan city officials have presented to the public. While many Yerba Buena residents expressed concern over maintaining their quality of life through more than a decade of construction, Treasure Island residents tended to express more support. Read more…

City Hall

Financial upside for developers is long-term and risky, city says

07.01.2010

By Victoria Schlesinger, Reporter

The developers of Treasure Island stand to earn a potential 20.6 percent return on their investments if the 18-year, phased construction plan and land sales proceed as they predict. That does not include possible future real estate sales.

City Hall

Through two mayors, connected island developers cultivated profitable deal

07.01.2010

By Alison Hawkes, Online editor of BayNature.org/Freelance writer and Bernice Yeung, Freelance writer

In the next six months, local officials and a consortium of private developers will begin to finalize legal papers for Treasure Island’s future as a high-density eco-city. Renderings of the gleaming towers, parks and gardens suggest harmony and community. Yet the promise of an urban Treasure Island, one of the most complex and risky redevelopments in San Francisco’s recent history, has for more than a decade been wrapped up in a process driven by power and influence. The mayor got neartotal control. Political friends got plum jobs and contracts. Critics were exiled. City and state conflict-of-interest laws were waived. Independent inquiries and the will of voters were nakedly rebuffed.

Environment

Pollution: experts concerned about Treasure Island cleanup as seas rise

06.29.2010

By Victoria Schlesinger, Reporter

Many Treasure Island sites have been decontaminated through soil removal or capping, which entails covering the remaining toxic soil with a clay cap. But there is growing concern that coastal sites once considered sufficiently remediated may become problematic as sea levels rise. Contaminated soil could come in contact with ground water as the sea pushes it higher. Bay Area scientists and regulators are beginning to explore the problem given the large number of former military sites in the region.

Land use

Sand and silt require $137 million fix for Treasure Island

06.29.2010

By Victoria Schlesinger, Reporter

There is a high probability that a Loma Prieta magnitude or greater earthquake will shake the Bay Area during the projected 18-year redevelopment of Treasure Island. However, city development officials say the island will ultimately be safer than the liquefaction-prone areas of downtown San Francisco and the Marina.

Climate Change

Uncertain about rising seas, developers using mid-range estimate to build up island

06.29.2010

By Victoria Schlesinger, Reporter

Most of Treasure Island will be inundated by the end of this century, if the documented progression of the ocean’s rise caused by climate change continues as predicted. Studies foresee sea-level rise ranging from as little as five inches to as much as six feet. The lowest parts of Treasure Island lie just four feet above the Bay’s low tide.

Environment

Can Treasure Island realize its ecotopian dream?

06.25.2010

By Jeremy Adam Smith, Freelance writer

The Treasure Island redevelopment, which aims to be the most ecologically sustainable community in the world, delivers a positive self-image of San Francisco as a forward-looking, avant-garde, socially and environmentally responsible metropolis. Nothing excites the utopian impulse more than a blank slate — and Treasure Island’s 486 acres have been semi-abandoned since the Navy shut down its base in 1997.