State Court Rules in Favor of Treasure Island Developers, Hurdle Cleared for 8,000 Homes
The developers behind the massive rebuild of Treasure Island in San Francisco cleared another hurdle to starting construction on the 8,000-home development on the man-made island.
A state Appeals Court upheld a lower court’s ruling that an Environmental Impact Report approved by San Francisco is adequate.
A group called Citizens for a Sustainable Treasure Island, led by former San Francisco supervisor Aaron Peskin, sued after city officials approved the EIR and the project in 2011. In December of 2012, a lower court affirmed the EIR and the citizens’ group appealed that decision.
Nonetheless, both projects have been tied up in lawsuits. Park Merced’s litigation is still ongoing.
Last June, the San Francisco Board of Supervisors approved an agreement for the U.S. Navy to transfer of Treasure Island to the city in exchange for $55 million that the developers will pay. In July, San Francisco and the U.S. Navy signed the transfer agreement.
“We are ready to begin building a great new community at Treasure Island,’’ said Kofi Bonner, regional vice president for Lennar Corp. “With incredible scenery and easy access by road and water, Treasure Island will become one of the city’s most desirable neighborhoods.’’