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MAYOR BREED OPENS SAN FRANCISCO’S NEWEST PARK ON YERBA BUENA ISLAND
May 11, 2024

Posted Courtesy of Wright Enterprises Community Spotlight San Francisc ~ Dallas ~~~

FOR IMMEDIATE RELEASE

Saturday, May 11, 2024
Contact: Mayor’s Office of Communications, mayorspressoffice@sfgov.org
***PRESS RELEASE***
MAYOR BREED OPENS SAN FRANCISCO’S NEWEST PARK ON YERBA BUENA ISLAND
On the heels of passing legislation launching Treasure Island’s Stage 2, Panorama Park highlights progress on San Francisco’s newest neighborhood with planned 8,000 homes and 300 acres of new parks and open space  
San Francisco, CA — Mayor London N. Breed, Supervisor Matt Dorsey, City Administrator Carmen Chu, City leaders, neighbors and community stakeholders today celebrated the grand opening of San Francisco’s newest public park, Panorama Park, which is now open on Yerba Buena Island with 360 views in the middle of San Francisco Bay.
Panorama Park is part of the revitalization underway of the former naval base at Treasure Island and Yerba Buena Island that, at build-out, will feature 8,000 new homes; 300 acres of new parks, trails, and open space; new restaurants and shops; a school and library; and world-class public art installations.
 
Located at the apex of Yerba Buena Island, the park offers unrivaled 360-degree views of the Bay Area and includes the 69-foot-high Point of Infinity sculpture, installed late last year by world-renowned artist Hiroshi Sugimoto.
 “San Francisco is home to the best parks and open spaces in the world and Panorama Park, with its spectacular views and world-class art installation, is a clear indication that the transformation of Treasure Island and Yerba Buena Island is well underway,” said Mayor London N. Breed. “Anyone who looks at any direction will witness the natural beauty of the San Francisco Bay Area, our impressive San Francisco skyline, and iconic sites such as the Golden Gate and Bay bridges. The opening of this park builds on our efforts to deliver amazing public spaces for all to enjoy.”
Today's ribbon cutting event comes on the heels of legislation signed by Mayor Breed yesterday, co-sponsored by Supervisor Matt Dorsey, and unanimously approved by the Board of Supervisors, that provides new financing tools for the Treasure Island project. This will allow for the timely completion of the next phase of infrastructure that includes 1,300 more residences – 250 of which will be affordable – and a variety of public amenities.
Due to its elevated location, visitors to Panorama Park will be able to see the recently opened adjacent parks and witness the housing boom occurring on both islands, which includes more than 1,000 homes that are already open or scheduled for completion this year.
   
“Standing here with views that are the envy of the world allows us to dream and to see dreams of a new neighborhood coming true,” said Supervisor Matt Dorsey, whose district includes Treasure Island. “Projects like this will help meet our housing goals and I am inspired to see how it is already making a difference in people’s lives.”  
“We are in the midst of seeing unprecedented investments being made on Yerba Buena and Treasure Islands.  Beautiful Panorama Park is the latest addition to this neighborhood and most surely will be amongst the City’s most scenic and iconic sites,” said City Administrator Carmen Chu. "San Francisco’s constellation of parks and open space, trails, public art, festivals and activations draw people from near and far to our City. I thank the dedicated team at the Treasure Island Development Authority and our partners at Treasure Island Community Development for their continued commitment and for turning plans into reality.”
Panorama Park was designed by Hood Design Studio, led by legendary Bay Area architect Walter J. Hood. Transforming the footprint of a historic two-million-gallon water tank built into the hillside in 1918, visitors can access the main overlook, up a winding elevated walkway, through grassy areas blooming with wildflowers. At the park’s overlook, Monterey Cypress creates an area of respite and provide an up-close look at “Point of Infinity” by Sugimoto, the Japanese photographer and architectural designer. The sculpture is the first permanent work of public art commissioned for the Treasure Island Arts Program. Starting at a width of 23 feet at the base, the sculpture rises to a height of 69 feet and tapers to a diameter of 7/8 inch.
 
“Panorama Park, with its spectacular views and soaring Point of Infinity sculpture, is destined to be loved by San Franciscans and all who come to the island.  It is the first of what will eventually be a network of 300 acres of public open space, parks, and sustainable wetlands, accessible by bicycle paths and walking trails. Our intention is to create an experience that marries art with nature,” said Treasure Island Development Authority (TIDA) Board of Directors President Fei Tsen. TIDA is the City’s public benefit agency dedicated to the economic development of Treasure Island. It also administers vital municipal services to Treasure and Yerba Buena Islands.
“Panorama Park and the development as a whole are great examples of how visionary thinking can be transformative,” said Treasure Island Community Development Co-CEO Chris Meany, the master developer for Treasure Island. “It’s exciting to celebrate this milestone and the momentum of what’s becoming an incredible new neighborhood.”
Signed into law yesterday, Mayor Breed’s legislation is designed to ensure the momentum continues through a Stage 2, which involves:
  • Maintaining the existing public benefits package that was approved in 2011  
  • Maintaining the affordable housing requirement (27.2%)  
  • Updating sections of the disposition and development agreement (DDA) that don’t align with the project’s current schedule and don’t align with other, more recent development agreements in the City
  • Accelerating Treasure Island-generated tax revenues to finance the project through current economic conditions
  • Deferring costs where possible to improve near-term financial feasibility
  • Accelerating permit review processes and other City-driven deliverables
In addition to Panorama Park, several other parks are completed or under construction on Yerba Buena Island and Treasure Island. Adjacent to Panorama Park on Yerba Buena Island, and newly open to the public, are Signal Point, The Rocks Dog Park, and Buckeye Grove. Buckeye Grove and another stormwater garden beneath the Bay Bridge are the largest bioswales in the Bay Area, naturally filtering water before it reaches the San Francisco Bay. Treasure Island’s western waterfront features two new parks, Cityside Park and Clipper Cove, under construction. The latter two parks, dog park and stormwater gardens are designed by CMG Landscape Architecture.  
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