|View toward West from the new Yerba Buena residential developments|
Until a couple of years ago if you thought there was no there there in nearby Oakland (according to a phase by the late great ex-pat Gertrude Stein) well there was less, less in the SF-owned mid-Bay island until now owed its claim to fame as a deserted WWII military depot and airfield. But thanks to the almighty dollar, those green pieces of paper printed by real estate developers, Yerba Buena and Treasure Island are being reborn as an apartment and owner-based housing development. Yerba Buena (Spanish for good herbs—mainly spearmint) is being developed separately from the bigger project aimed for Treasure Island.
And, if you haven’t guessed by now—you too can get in on the ground floor of a massive new Yerba Buena residential project [The Residences] offering more than 250 condominiums seemingly priced a penny less than $2 million per unit. Forgive the cynical overtones but some of us were hoping for more affordable units.
Call us naïve if 14 or so submarket units being offered on YB is a bone worth chewing.
|East-facing apartment units on Yerba Buena island now under construction.|
Master plan for Treasure and Yerba Buena islands, below
Media reports point out Bay Bridge commuters are familiar with construction on Bristol Residences, the apartment complex facing the East Bay. Recently, groundbreaking is a done deal and construction is underway for the Townhomes and the Flats residences projects. San Francisco-based Stockbridge Capital Group and the developer Wilson Meany Sullivan are jointly developing for the project. Cahill is the heading up construction.
Groundbreaking news: Construction so far in 2022 has topped out on the first new building in the Treasure Island redevelopment plan. TI’s planned 8,000 unit redevelopment plan is led by Treasure Island Community Development (TICD), a partnership with Stockbridge Capital Group, Wilson Meany, and Lennar Corporation. Treasure Island may not have cheap flats but the master plan shows plenty of green space.
Is Angel Island next for real estate redevelopment? Who do we ask about that?