SAN FRANCISCO (KRON) — A long-stalled plan to build a new marina at San Francisco's Treasure Island has gained momentum with the formation of a partnership that will provide capital for the $25 million project, according to the companies involved.

Interest in modernizing and expanding the moorings at Clipper Cove dates to the 1990s, when the city acquired development rights from the U.S. Navy. Negotiations with the Navy over the transfer, an environmental review and the COVID-19 pandemic all dragged the project into the present yet to be started.

On Wednesday, the company leading the project, Kenwood Investments, announced a partnership with the current marina's manager, Suntex Marina Investors, which will provide the money needed to get the project started by next June.

The new marina

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