What the first completed phase delivers
The first completed phase of the Treasure Island and Yerba Buena Island master plan opened at 490 Avenue of the Palms. SFYIMBY reported the opening on 17 July 2026. Treasure Island Community Development posted the address as now leasing on 16 July 2026.
The operator describes a serviced lease offering and files the address under apartments for lease. The building carries 148 homes from studios to three-bedrooms, in flat and townhome configurations, with ground-floor residences opening onto a landscaped courtyard. It is the fifth residential community to open on the island in recent years.
Six storeys on the edge of Cityside Park
The six-storey building sits along Cityside Park on the island's waterfront. Anne Fougeron, FAIA, designed it in collaboration with Mark Cavagnero Associates, with three large openings cut through the block to pull daylight into the middle of the building. Interiors come from Mark Cavagnero Associates and Kenneth Brown Design. A joint venture of Guzman and Suffolk managed construction.
Within the building, The Palms Collection is a limited release of 34 front-row homes with weekly housekeeping, wellness programming, car-service coordination and arrival and departure assistance, plus a set number of complimentary Paddle Club and e-bike bookings each month.
The tenure each publisher states
SFYIMBY described the residences as condominiums and called the building the first condominium complex on Treasure Island. The operator's leasing article describes a serviced lease offering and lists the address under apartments for lease. Each statement stands as published by its own party. No publisher fetched for this piece documents a change of tenure at the building.
Leasing, occupancy and the island count
Residential services are managed by Sentral. The operator states that every resident is supported by a Director of Experience and Lifestyle and an on-site Experience Team drawn from hospitality backgrounds, and that the Sentral Life App won the Multifamily Executive award for Best Use of Proptech.
The operator's July 2026 count records nearly a thousand residents moved in across the two islands, Hawkins fully leased and Isle House 95 percent leased. Eight parks are open.
Against the 8,000-home entitlement
SFYIMBY reports full build-out as 8,000 units across a new high-density neighbourhood, including 2,700 permanently affordable units, hotel rooms, offices, retail and roughly 300 acres of public open space. The Treasure Island Development Authority states the islands are growing into a community of up to 8,000 homes, with approximately 27% affordable housing in total.
490 Avenue of the Palms delivers 148 of those homes. SFYIMBY names the co-developer as Treasure Island Development Group, a partnership with Lennar Corporation, Stockbridge Capital Group and Wilson Meany.
No construction start date is published for the building. The completion notice is the dated record.
Hotel and commercial space on the timeline
The master plan lists hotel rooms among the build-out components and publishes no room count. No hotel appears in the island's directory of venues and services, and the operator publishes no hotel schedule. Hotel operators watching the island hold a project component and no delivery date.
Other elements of the build-out carry dates. Bay FC broke ground on its training facility in 2025. The site covers approximately 8.5 acres with three training fields and becomes operational in time for the 2027 season.