TREASURE ISLAND MARINA MODERNIZATION TEAM EYES FIRST WORK BEGINNING IN JUNE 2026

Developer Kenwood Investment and Suntex Marinas announce plans to complete new 168 slip marina at Treasure Island

SAN FRANCISCO, Oct. 9, 2025 /PRNewswire/ -- Kenwood Investments and Suntex Marina Investors announced today a joint venture agreement for construction of a new 168 slip marina at Clipper Cove on Treasure Island.

Closing of the joint venture agreement, which will be entered into via subsidiaries of Kenwood and Suntex Marinas, is expected to occur in the fourth quarter of 2025, subject to the satisfaction or waiver of customary closing conditions. Kenwood and Suntex are preparing for construction of the new marina to begin as early as June 2026.

To meet this timeline, the companies will seek a final approval by the Treasure Island Development Authority (TIDA) over the next few months in order to meet the transaction schedule, with the first TIDA meeting taking place at its meeting today, October 8, 2025.

The project, which remains unchanged since it was unanimously approved by the Board of Supervisors in 2019 (11-0), has already been approved by the Bay Conservation and Development Commission (BCDC), which has jurisdiction over projects along the shores of San Francisco Bay.

The first new marina entitlement in more than 25 years within the Bay, upon completion the project will replace aging, decayed and environmentally unsound wooden docks in Clipper Cove, which separates Treasure Island from Yerba Buena Island.

The redeveloped marina is anticipated to have 168 slips able to accommodate a wide range of sail and motor boats and recreational transient users. Plans call for the marina to be built on wrapped steel guide pilings with docks that will float on piers tall enough to accommodate anticipated sea level rise.

"This will be an incredible addition to the recreational features that are an integral part of the plan to make Treasure Island a true treasure in the Bay," said Darius Anderson, Kenwood Investments CEO. "We look forward to getting started on this project next summer with a goal of having the new marina open within one to two years."

Anderson lauded the work of the many Mayors whose agency, the TIDA, manages Treasure Island and acknowledged the hard work of Mayor Lurie and his team for advancing the project. Anderson said, "Under Mayor Lurie's leadership we are pleased to bring Suntex Marinas to San Francisco representing another example of significant investment coming to San Francisco and another sign that San Francisco is coming back."

Suntex Marinas, based in Dallas, Texas, is one of the largest and most respected recreational marina operators in the country. Suntex owns or manages more than 95 marinas across 15 states, including 17 in California with four in Oakland alone. Suntex is very familiar with the Treasure Island Marina and its role in the larger development of the Islands. Suntex purchased Almar Marinas, who had been TIE's long-time manager, in early 2024 and has now operated the marina for more than one year. Suntex Marinas ensures boat owners have access to state-of-the-art services and strives to build a community around the experience of being on the water.

"Clipper Cove is not only an historic location, it is also a unique place in one of the largest natural harbors in the world," said Bryan Redmond, CEO of Suntex. "We are proud to be working with Kenwood and the City because we share their long-standing commitment to make this marina a crown jewel of San Francisco Bay." 

"We're excited that we are at the finish line, after undergoing meticulous agency reviews as well as creating a design with the input of local recreational sailors and others," Anderson said. Anderson went on to say, "Kenwood is proud to be bringing Suntex Marinas to Treasure Island as part of our partnership and with their anticipated capitalization we look forward to beginning construction next summer."

About Kenwood Investments
Kenwood Investments, LLC, was founded by Darius Anderson in 2000. The company's investment focus has been on real estate development, land entitlement, media, tourism and hospitality investments. Kenwood has a track record of developing extraordinary projects that greatly enhance the communities in which its projects are built or operated and has specialized in projects facing complex hurdles of public policy, land entitlement and pre-venture capital funding. For more information, go to kenwoodinvestments.com.

About Suntex Marina Investors LLC
Suntex Marinas engages in the ownership and management of marina properties. The executive officers at Suntex have over 100 years combined experience investing in, acquiring, and managing marinas. Suntex, in partnership with Centerbridge Partners, L.P. and its affiliates, prides itself on a growing reputation in the marina industry for its commitment to superior customer service, experienced marina managers and staff, conscious contributions to marina communities and expansive enthusiasm for creating memorable experiences on the water. For more information, go to suntex.com.

Contact:
Sam Singer
Singer Associates Public Relations
Email: singer@singersf.com

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SOURCE Kenwood Investments