te tailed of today's big agreement. >> reporter: treasure island has not been an active military base since 1967, the government has owned that land, that is until today. today secretary of the u.s. navy, house speaker nancy pelosi and mayor newsom commemorated the changing of the ownership of treasure island. >> a lot of sailors and marines who left from here, this was the last time they saw america. >> reporter: mayor newsom thanked former brown and others who he says worked through a pain staking process. the process was launched in 1984. >> it was not easy to put together. but we stand here today to celebrate that standing. >> reporter: the plan is to develop housing units, hotels, shopping areas and open space. house speaker nancy pelosi says the plan may be used as a model for other military bases for transition. >> it means we can now go into the future assured of this partnership that's good for the bay area and good for the u.s. taxpayer. >> reporter: ground breaking is scheduled for next year. many if not all of the 30 or so business already on the island will need to be relocated. jim morowski founded treasure island wine and wants to be part of the island's future. >> we w