The mayor says reviving Treasure Island, adding new homes and transit options like ferry service, will play a critical role in easing San Francisco's housing crisis. Twenty more parcels are already under development for market-rate and below market-rate housing. SEE ALSO: Hearing scheduled on proposed fares for new ferry service between SF, Angel Island "So, it has the moral imperative of being a former military base serving homeless veterans."
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"So, this building is going to be affordable for homeless veterans, low income veterans," said Sherry Williams from One Treasure Island. The first market rate homes on Yerba Buena Island are set to open next year, as is an affordable housing with more than 100 units set aside for veterans. "It's those things together that are going to make this the greatest new neighborhood in San Francisco."įinal plans seen in artist renderings call for more than 300 acres of open space and in the years to come the island will boast more than 8,000 new homes. "It is important to us that we provide housing of all different types, over all different income levels, that there is a rich network of public transportation and parks," said Meany. $600 million so far, with a lot more work to go. The new ferry service is just one part of the infrastructure already being built like new roads, a new sewer system, and geotechnical work aimed at protecting the island against global warming.