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Thursday, February 29, 2024
Feb. 29, 2024

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Port of Vancouver OKs lease for two blocks of Terminal 1

By , Columbian business reporter
Published:
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Construction of the AC Hotel by Marriott continues at the Port of Vancouver&#039;s Terminal 1 redevelopment site. Earlier this week the port commission signed a 50-year lease with a developer who will build a mixed-use project on the northern two blocks of the site, near the railroad berm.
Construction of the AC Hotel by Marriott continues at the Port of Vancouver's Terminal 1 redevelopment site. Earlier this week the port commission signed a 50-year lease with a developer who will build a mixed-use project on the northern two blocks of the site, near the railroad berm. (Amanda Cowan/The Columbian) Photo Gallery

The Port of Vancouver Board of Commissioners approved a lease for the northern two blocks of Terminal 1 on Tuesday, a step forward that impacts a significant portion of the site’s developable land area adjacent to The Waterfront Vancouver.

The ground lease with BOZ Port of Vancouver, a joint venture from Texas-based Lincoln Property Company and Bridge Investment Group, includes an initial 50-year term with two extension options.

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Columbian business reporter