In a lengthy meeting last night, the Planning Commission approved a $1.5 billion development plan for Treasure Island. The plan calls for 8,000 housing units, 140,000 square feet of commercial space, some 500 hotel rooms and 300 acres of public parks in addition to a new ferry terminal. The vote from the commission was a tight 4-3 after "a long line of public speakers" mostly spoke in favor of the new housing or against the number of parking spaces. The three nay votes, by the way, all came from commissioners appointed by the Board of Supes. The four mayor-appointed commissioners were all on board with the plan and the matter will now head over to the supes. Expect it the final vote to come up on the agenda early this summer. [SFEx] [Chron]