The Presidio Reaches Financial Independence

The Presidio Trust, the federal agency in charge of the Presidio of San Francisco, has achieved financial self-sufficiency, no longer requiring taxpayer money to operate. Under the law that transferred the former Army base to the Golden Gate National Recreation Area, the Presidio had to gain financial independence in 2013 or risk being sold.

The Presidio brings in more than $90 million a year with a mix of nonprofit and commercial enterprises, ranging from Lucasfilm and Disney Family Museum to the Center for Service and Leadership, restaurants, and a golf course. The trust also rents former Army housing units near Baker Beach, as well as bigger residences built for top brass, with a 97 percent occupancy rate. The trust has faced opposition over the years regarding commercialization (plans for a 10,000-square-foot museum from late Gap founder and art collector Donald Fisher were thwarted), and it is currently facing legal action over its plan to build a large hotel on the Main Post.

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