Apr. 7, 2023
Developers sue each other over Treasure Island project
Stockbridge Treasure Island Investment Company LLC and Wilson Meany seek a declaration from the court that negotiations between the parties have deadlocked and Kenwood must participate in the buy-sell offer. Kenwood fired back y with its own lawsuit alleging an undisclosed breach of contract by Stockbridge and Wilson Meany that placed “the entire Treasure Island project at risk.”
The developers behind an estimated $6 billion project on San Francisco’s Treasure Island are battling in superior court with two lawsuits filed this week. One alleges a breach of contract; the other demands the contract be enforced.
The development plan for the man-made island in San Francisco Bay, which was built in 1939 and formerly housed a Navy base, included new housing, a ferry terminal, high-rise buildings and a school, according to...
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