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Treasure Island developers say 168-slip marina is permitted; board asks for financing proof and performance milestones
Summary
Treasure Island Enterprises told the TIDA board the long‑planned 168‑slip marina has secured required permits and near‑final financing, and the board pressed the developer for written financing proof and a performance schedule with construction milestones.
Treasure Island Enterprises representatives told the Treasure Island Development Authority (TIDA) board on July 9 that the long‑planned 168‑slip marina for Clipper Cove has full regulatory approvals and financing arrangements are expected to be finalized within weeks. Board members said they want written evidence of financing and a timetable of performance milestones before construction begins.
Jay Wallace, a principal with Treasure Island Enterprises, said the project “continues to be 168 slips on 4 gangways” and that the developers recently received unanimous approval from the Bay Conservation and Development Commission (BCDC), and have approvals from the Regional Water Quality Control Board and the U.S. Army Corps of Engineers. “We are fully engaged with our permitting process,” Wallace said, adding the team expects to finalize financing “in the next couple of weeks.”
The board’s chair, President Faye San, and other commissioners said the marina is strategically important to Treasure Island’s master plan and urged the developers to put performance milestones and proof of financing on the record. San asked staff to prepare an agreement specifying milestones such as completing permits by the end of the year, starting construction in mid‑2026, and finishing by November 2026 — the seasonal window BCDC allows for in‑water work.
Commissioner Linda Richardson noted the project’s long history — the developer said the effort began in 1999 — and said the board needs assurance that the financing is secure. “If you cannot be successful, we need to move on,” Richardson said. Several commissioners emphasized the project’s role as an economic engine for the island and the need to protect public access, particularly for the established sailing center.
Developers told the board they intend to build all 168 slips in a single phase and that the marina layout was negotiated with the sailing center and supervisors to preserve the swim zone and remain distant from eelgrass areas. Wallace said the team met with the San Francisco Treasure Island Community Development utility crew to integrate marina utilities with the master development, and that pile driving will be limited to the June–November window required by BCDC.
Public commenters who live on Yerba Buena Island and Treasure Island expressed support for the marina and urged the board to require written financing proof and clear milestones. Board members said staff and the developer should return with details for a firm performance schedule and financing documentation, and several commissioners invited the developer to provide regular updates as permits and financing are finalized.
The board did not take a formal vote on the marina at the July 9 meeting; members requested a follow‑up presentation with specific milestones and financing documentation before authorizing any timeline or other enforcement steps.
