VANCOUVER, Wash. — Light rail is potentially coming to Vancouver and the city is now considering spending $12 million on a prime piece of downtown real estate. It’s an open lot that could become a light rail transit center if the Interstate Bridge Replacement project goes forward.
The project is not a done deal yet, as Oregon lawmakers continue to debate how to put up their share for the bridge — $1 billion to match an identical amount already pledged by Washington.
Regardless, Vancouver Mayor Anne McEnerny-Ogle wants the field at East Evergreen Boulevard and C Street to become a transit hub. She figures the price is right even if the new bridge plan falls apart.
The property is an open lot with a lot of upside for the future of transportation in Vancouver, according to the mayor.
"The developer gave us quite a donation, so it'll be a $12 million investment," said McEnerny-Ogle.
It's $12 million for 3.18 acres, a plot that appraisers say is worth $18-20 million. It's on the east side of downtown next to Vancouver Community Library and some historic parts of the city.
The land is also adjacent to I-5 and the planned TriMet Max light rail route along the interstate. You can see the route noted in yellow on plan renderings for the Interstate Bridge Replacement Replacement Program.
"This will be the new transit mall where light rail stops, where our bus rapid transits come together, where our local buses come together, where the little shuttle buses come down from the north," said the mayor.
In addition, there will be parking and other amenities as part of the transit hub. A city presentation lays out more details.
McEnerny-Ogle said the city has been eyeing this property since 2007, when the library was set to be built. And it's been considered a good spot for a transit hub before, at the time of the failed Columbia River Crossing project.
KGW talked to a few people visiting the library who like the idea of it this time around.
"This is so central to the city core; it seems like a great way to put together all the cool things that are in the area. And you really give people access to it," said Kate Donovan as she loaded two young children into her minivan in the small library parking lot.
"As long as it's done safe and there's security being so close to where I bring my kiddos a lot, I'm OK with it for the price in this area. And if we get a way to go across the bridge or go north or south, I’m happy with that," said Patrick Ridgley as he was leaving with his children.
Vancouver City Council will consider the deal at a meeting on Monday, but they've already been working ahead on it.
The mayor believes it will be approved for the purchase of this land in June, with $12 million in city dollars in place. The funds will be split evenly between three sources, including Real Estate Excise Tax proceeds and short-term loans from the parking and water funds.
"And we'll be able to recoup that, but this is an opportunity for us to get things together, control the development of this site — and then we'll work with IBR in the future," said McEnerny-Ogle. "But that's our big concern right now, we need to make sure Oregon understands this is a project that we desperately need."
The mayor is a big proponent of an I-5 bridge replacement. She will be down in Salem on Thursday, lobbying Oregon lawmakers to do their part to make it happen.