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Treasure Island redevelopment moves forward as supervisors hail community process
Summary
The Treasure Island Development Authority described operations and a projected $8.3 million annual revenue stream; elected leaders and community groups celebrated approvals and emphasized promises of up to 2,400 affordable units, including supportive housing for formerly homeless residents.
The Budget and Finance Committee received a presentation from Mary Anne Saiz, Treasure Island Development Authority director of operations, on the authority's budget and recent milestones.
Saiz told supervisors the consolidated projected annual revenue is about $8.3 million, led by housing ($4.7M) and commercial revenue ($2.0M), with the balance from special events. She emphasized the authority receives no city general fund support for island operations and outlined partnerships with nonprofit service providers that deliver resident services.
Mayor Edwin Lee, Supervisor Jane Kim and others joined a public celebration described to the committee as the culmination of a long planning and outreach process. Supervisor Kim highlighted the project's commitment to "up to 2,400 units of affordable housing" and called the community-engagement process "unprecedented" for an effort to include supportive units for formerly homeless people.
The committee acknowledged the project's scale and the need to track commitments, and asked the agency to coordinate follow-up on operational transitions and financing details during subsequent hearings.
