In going forward with the redevelopment of Terminal 1, the port made certain commitments to the community about the overall development including the public spaces. The weight of this commitment has attracted local developers to invest in Vancouver and SW Washington.
Private construction and development will be key to the physical footprint and economic transformation of Terminal 1. Once completed, the privately developed projects are estimated to total 1.7 million square feet of new construction with a total construction cost of $530 million.
While private development will add many attractive commercial features, such as restaurants and retail spaces, the port will provide resources to develop the public amenities, such as walking trails, outdoor gathering areas, public art and a public market.
This public/private partnership is vital to the Terminal 1 project.