On December 10, the California Strategic Growth Council awarded a $45 million grant from the Affordable Housing and Sustainable Communities program for Treasure Island development and transportation projects led by the John Stewart Company, the Treasure Island Development Authority, and the Treasure Island Mobility Management Agency.
Funded by the Cap-and-Invest program, this grant includes $33.5 million for the construction of affordable housing on the island and $10.9 million for several key transportation improvements, including:
- Additional bus shelters (expected to be completed by the end of this year as part of the Transportation Authority’s Treasure Island Ferry Terminal Enhancements Project);
- Bicycle paths and sidewalks that the Treasure Island Development Authority is building, which facilitate the completion of the Transportation Authority’s Yerba Buena Multi-Use Path northern segment (scheduled for completion in summer 2028)
- Operating funds for TIMMA’s future zero-emission electric ferry services
These improvements will support growth plans for Treasure Island. By 2042, this neighborhood will grow by up to 8,000 homes—many offered at below-market rates—housing more than 20,000 new residents. Along with more housing, this new development includes extensive parks and open space, restaurants, retail and office space, and hotels.
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