VANCOUVER, Wash. — Vancouver's waterfront west of the Interstate Bridge has undergone a tremendous transformation over the last decade. More than 40 acres have been turned from industrial land that was inaccessible to the public into a place where people want to be.
Once it's all said and done, more than a billion dollars will have been invested in the project, with developers estimating six times that number in return.
"I think, now, almost anyone would agree that this is a top destination in the Portland-Vancouver area now," said Barry Cain, president of Gramor Development, the group in charge of developing 33 acres of Vancouver's waterfront.
For years, this waterfront area was home to a paper mill. But in the early 2000s, Cain and his group had a vision to turn it into a public space where people could live, work and play. Cain said that not everyone was convinced of his vision.
Since breaking ground in 2016, a lot has happened: Streets have been built. A public park with a water feature is now a popular place to walk and run along the waterfront.
Multiple office, residential and hotel buildings have also gone up. Cain had hoped they'd be taller, but FAA rules, with Pearson Airfield and Portland International Airport nearby, put a cap on their heights.
"I think the sized buildings we have now are perfect to start with. It's a better entry into Vancouver than the taller buildings than we originally assumed," Cain said. "We thought we'd have more office, but the office market has gotten a little softer."
Under construction now is a new eight-story parking garage that'll replace surface lots. The parking garage will also solve a parking problem by creating around 400 more spaces.
"We have projects that we have parking problems, and we have projects that we don't have parking problems, and we like the ones where we have parking problems better," Cain said, referencing that business was good.
Business is so good that if a restaurant owner wants to get in, it's too late.
"We don't have any space for any other restaurants, so there's a lot of people wishing they had come in initially," Cain said.
Near Cain's development is a separate project being built by the Port of Vancouver, called the Terminal One Project. Port officials said that their project is about halfway done.
"Tremendous change," said Jonathan Eder, executive project sponsor of the Terminal One Project. "We see, even today with a lot of work still to be done, we see it as a vibrant area that people are continuing to come down here. We're excited to see the changes happen."
In January, crews wrapped up the first of three phases of what they call "in-water" work. Environmental regulations limit the span of time that work can happen in the water between the months of October through January. Phase one included taking out the old dock before they can put in a new one over the next two "in-water" work periods.
By 2027, it'll be home to a new 40,000-square-foot public marketplace.
"That will really be the crown jewel of at least our development and we're excited to get going on that." Eder said.
In 2022, a new Mariott Hotel opened up. Staff said that occupancy rates average about 80% a day, but routinely reach 100%.
Currently under construction is a new office building that will be occupied by ZoomInfo once completed. Eder said construction should wrap up during the summer.
Overall, the work to make this into a public space will represent a complete about-face from what it was just a few years ago.
"It's changed from an industrial site, where there was really no access, to now a vibrant area, where on any given day, you see it crowded with people and people enjoying the waterfront and being able to access the Columbia River." Eder said.