Terminal One in the News

A recent article in the Columbian discussed the Terminal One project at the Port of Vancouver’s original terminal immediately east of the Vancouver Waterfront Development. This is effectively a companion development that will ultimately have a waterfront public market (similar to Pike’s Place, Seattle). The recent news focuses on both the potential for parking concerns and the call out to potential developer/investors for block’s A and C on the north side of the project. The idea for those two blocks is a mixed use high density development. The FAA will no doubt keep the height down to 6-7 floors as Pearson Field and PDX flight paths are affected.

The western two blocks of the six block project are leased to Gramor Development as part of the $1.5 billion Waterfront Vancouver project. Gramor has plans for a high-rise office on the waterfront block 2, and block 1 is available. An AC Marriot hotel is scheduled to break ground this year on block D. The current Warehouse 23 restaurant and the wharf it sits on top of will be demolished to make way for a brand new wharf and the public market. Also on the same “block” as the new wharf will be an office building officially block B.

It looks like the timeline is AC Marriott on block D first starting this year and completion likely late next year; then the aforementioned “back blocks” A and C with whatever the private sector can arrange with the port authority. The last bit will be the proposed office building and the brand new Wharf and public market.

Parking is fine for now as the Waterfront and Terminal One are only just starting. Several of the vacant lots are already paved and in use as surface parking and staging for some of the larger projects. As both developments start to build out the area available for parking will shrink while the demand will rise. A double whammy of sorts. This will be a concern over the next few years.

I think the leased block 1 of the Gramor Waterfront should be a public parking facility jointly owned by the City of Vancouver, Port of Vancouver, and Gramor or their assign. The city could run the garage and space could be designated for the public as well as private space to serve future office/commercial development in both projects.

When dealing with the combined waterfront effort of the Port of Vancouver and Gramor Development, this is $2 billion in local projects; it would be foolish not to expect some logistical problems along way.

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