San Francisco Claims Treasure Island

The City of San Francisco has secured a deal with the U.S. Navy to purchase Treasure Island, a man-made island in the middle of San Francisco Bay. The city has broad plans to redevelop the site.
December 19, 2009, 7am PST | Nate Berg
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"The agreement paves the way for the city to undertake one of its most ambitious development projects - remaking the closed naval base on a man-made island in the middle of San Francisco Bay into a model of sustainable development.

'We can finally begin the hard work of making sure the city's grand vision for Treasure Island can be realized,' Newsom said in a statement announcing the deal with Secretary of the Navy Ray Mabus."

Treasure Island was built in the 1930s for the Golden Gate International Exposition and was later turned into a Naval base. The City has agreed to a $55 million guaranteed payment over the course of several years. The full cost could total about $105 million.

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Published on Thursday, December 17, 2009 in San Francisco Chronicle
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