The board voted unanimously in favor of the $1.5 billion project, a week after a long meeting in which the supervisors considered -- and eventually rejected -- an appeal of the environmental review of the proposal.
Over the next two decades, developers plan to add up to 8,000 residential units, up to 140,000 square feet of commercial space and as much as 100,000 square feet of new office space to the island, as well as new and upgraded roads and infrastructure, including a new ferry terminal.
The city has been working to redevelop the 404-acre island in the middle of the Bay since the U.S. Navy closed its base there in 1997.
Opponents of the plan argued that the environmental review did not adequately address various impacts of the project, including increased congestion on the Bay Bridge, the island's vulnerability to flooding from a tsunami or liquefaction from an earthquake, and toxicity left behind at the site of the shuttered naval base.
Work on the project is scheduled to start in mid-2012, with the construction of homes and retail spaces beginning in 2014.