The state of Washington granted $1 million to the city of Vancouver to fund construction of the planned eight-acre public park and trail extension at Vancouver’s Waterfront Park.
The funding recently approved in the state’s 2012-2013 capital budget allows the city to build the first phase of its eight-acre Vancouver Waterfront Park, now in the design phase. The park, a community focal point, will open up new riverfront public access from the Columbia River to historic downtown, the city said.
Vancouver Mayor Tim Leavitt said the redevelopment project is a critical portion of the planned 32-acre private mixed-use investment project expected to create thousands of new jobs.
“This funding certainly is significant, and is, in fact, much more important than just funding a new public park and trail,” said Leavitt in a press release. “The critical infrastructure constructed with this money will be leveraged to attract major private investment and creation of jobs for Vancouver residents along our waterfront.
“This Vancouver redevelopment is one of the few individual projects approved in the overall state capital budget – specifically because of its link to economic development,” Leavitt added. “This is a turning point in the redevelopment of our waterfront – leveraging $1 billion in private investment pledged by Gramor Development for the Columbia Waterfront LLC.”
Leavitt praised the Washington Legislative delegation for their decision to support the project.
“This is really a smart move by the state because it offers a critical piece of public financing that will be leveraged to create hundreds of immediate local construction jobs,” said Leavitt. “It’s also an investment in future economy, jobs and prosperity for the residents throughout SW Washington. I’d like to specifically thank State Representatives Wylie and Moeller, and Senator Pridemore for their staunch support.”
Columbia Waterfront LLC
According to the city of Vancouver, property next to Vancouver Waterfront Park and close to the City Hall will include the Columbia Waterfront LLC mixed-use development, offering a diversity of new uses including residences and offices blending with restaurants, shops and hotels, public parks and open spaces, inviting residents, neighbors and visitors to come together.
The Columbia Waterfront LLC project is expected to add thousands of new jobs for Vancouver and Clark County for years to come. The project includes up to 1.2 million square feet of office and 400,000 square feet of retail space, with more than 20,000 total jobs anticipated over the life of the project.
Visit the Gramor Development Vancouver Waterfront website to see a concept video of what Vancouver Waterfront Park and the Columbia Waterfront LLC mixed-use development might look like when finished.