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In 2011, Yerba Buena Island, the land mass that the bridge touches down on as it crosses San Francisco Bay, was announced to undergo a 20-year development that would create two new residential neighborhoods with room for up to 8,000 residents, Mercury News reports. Following evictions in 2015, names like Wilson Meany and Stockbridge Capital Group joined forces to develop the island enclave, which saw the launch of The Bristol condominium in 2023. Now, new images of The Townhomes within The Cove Residences have been revealed, with calming views of the bay and all the ingredients for sustainable living.

The 39-story residential building, which features just under 400 units, is one of several that have seen a recent uptick in recent buyer activity.

Two new amenity-rich developments—Yerba Buena Island and Treasure Island—are redefining the luxury housing market in San Francisco, a space-limited city that has a reputation for making it exceedingly difficult to get projects approved.

After a long dormant period where many new downtown San Francisco condo buildings were fallow fields of unsold units, green shoots are beginning to show in that segment of the city’s housing market. Condos have always been more plentiful on the San Francisco market than single-family homes, and a glut of new condo units have been languishing for sale since the days of the pandemic. But that protracted period when supply stood high and demand (and prices) fell appears to be shifting, based on what a number of brokers say they are experiencing.

A penthouse on San Francisco’s Yerba Buena Island has sold for $3.23 million, setting a price record for the new and unique San Francisco neighborhood, according to the Compass real estate firm. Penthouse 602 is part of The Bristol, a five-story, 124-unit condominium building offering residents fantastic views of the Bay Bridge and other San Francisco landmarks. The three-bedroom, three-bathroom luxury condo spans 1,971 square feet inside. Outside, the wraparound terrace adds another 421 square feet.

The most expensive luxury condo sold on Yerba Buena Island to date just closed this month, a sign of fresh homebuyer interest ticking up at one of the region’s newest housing developments. The Bristol’s first big sale of the year — Penthouse 602 — sold for $3,230,000, a record price for San Francisco’s Yerba Buena Island. It was not listed on the MLS and it closed the first week of January, a representative for the building told the Business Times.