A groundbreaking on September 8th signified the beginning of a project that will completely change the presence of downtown Vancouver overlooking the Columbia River.
The waterfront project, which is projected to span 22 city blocks, will usher in restaurants, office buildings, hotels and rental properties to an otherwise vacant industrial lot.
"The project will change everything about downtown," said Gramor Development President Barry Cain.
A group of local investors and Tualatin-based Gramor came together to form the Columbia Waterfront LLC, purchasing the 28-acre property on the former Boise Cascade industrial site in January 2008 with initial plans to redevelop. The property was combined with a long term four-acre land lease from the Port of Vancouver for a total of 32 acres.
Cain said the area has been held back for too long.
"Downtown Vancouver should be a waterfront city," he said.
According to Gramor, the groundbreaking commemorated the beginning of an access project that will be tentatively completed in 2012, before construction of the development can begin in 2013. The $44.6 million access project includes road, rail, utility work and the reconstruction of the Burlington Northern Santa Fe rail berm in downtown Vancouver. This will allow for the extension of Esther and Grant streets under the rail line to provide access to the waterfront redevelopment site.
"The city has been doing a lot of planning to be positioned for growth," said City Business Development Manager Alyssa Pyszka.
According to a briefing released by the city of Vancouver, plans are to expand the downtown area to a waterfront that includes jobs, housing, retail and public open space.
Pyszka said Clark County has traditionally been one of the fastest growing areas in the state, despite a recent slow-down in growth. For that reason, she doesn't doubt the area's potential.
The city has committed about $13.8 million to the access project, with an additional $8 million coming from private sources. Beyond that, funds are coming from state and federal grants.
Cain said the entire waterfront project may take about 15 years to complete, but he has already been in talks with business owners, hotels and rental properties that are interested in moving into the space. The project is estimated to provide millions of dollars in tax revenue for the city, county and state, as well as some 20,000 additional jobs.
A flyover conceptual video of the waterfront project can be found online at the city's Web site. You can also find more details about the project online at www.thewaterfrontvancouverusa.com.
