Updated proposal calls for more condos, emphasis on ferries, penalties for driving
The latest blueprints for Treasure and Yerba Buena islands include a fifth high-rise residential tower, 6,000 apartments and condominiums, three ferries and an aggressive incentive plan to get people out of their cars and onto ferries and buses.
A prior proposal, announced late last year, called for 5,500 housing units, four towers of at least 30 stories and one less ferry to shuttle residents to San Francisco.
“We need a critical mass of people living on the island” to make it work financially, said Michael Cohen, of the Mayor’s Office of Base Reuse and Development.
The redevelopment plan calls for providing at least 1,800 affordable units and a 338-acre park.
Under the $1.19 billion proposal that’s still being hammered out, all parking would come at a price, residents would have to buy public transportation passes and cars driven off the island during rush hour would pay an extra fee, Treasure Island Development Authority members learned Wednesday.
“This is a land plan that makes it easy to walk,” said Chris Meany, of Wilson Meany Sullivan, a development firm. “With the carrot and the stick, you encourage people to do the right thing.”
Meany’s group is one of the would-be developers of Treasure Island. The Miami-based Lennar Corp. has agreed to pay $497 million as its portion to develop the manmade island between Oakland and San Francisco. Developers would eventually reap revenue from selling the residential units.
Treasure Island operated as a naval base during World War II, and it is still owned by the Navy. The City hopes to buy the 450 acres from the Navy for $40.5 million, the amount that cleaning up the island will cost, city officials said.
The proposal is slated to go to the Board of Supervisors in November or December, after a series of meetings in coming weeks to finalize details.
Under the proposed “congestion pricing management” plan revealed Wednesday, a resident choosing to drive to San Francisco during a weekday morning would be forced to pay an additional, yet-to-be-determined fee.
He or she, by virtue of living on the island, would possess a pass for riding Treasure Island ferries and buses.
Cohen compared the compulsory public transport pass with what a member of a homeowner association pays in monthly dues.
Treasure Island Development Authority board member John Elberling said he wouldn’t vote for the plan, including the current transportation component.
“Being mean to future residents is not a good tactic,” Elberling said.