PORTLAND, Ore. (KOIN) — As Seattle celebrates the 116th anniversary of the popular Pike Place Market, fellow Pacific Northwestern city Vancouver is making headway on a public market of its own.
The Port of Vancouver is in the initial design phases for Terminal 1’s public marketplace, a portion of the waterfront development that will feature 40,000 square feet of shops, breweries, local fresh foods and more.
This October, Executive Project Sponsor Jonathan Eder said crews will begin demolishing the 100-year-old dock structure on the site that previously served as an industrial hub. Next year, crews will begin replacing it with a modernized structure that’s more up to building codes.
“It’ll be a brand new building, but a little bit of a representation of what was there in the past,” Eder told KOIN 6. “We’re also really thinking about and trying to be cognizant of the history and really create the visual history of the port and this area in the building.”
The Vancouver Landing, a renovated ampitheater that intersects with the Waterfront Trail, is another portion of the development project that was already launched back in 2022 — along with the AC Hotel by Marriot.
With places like The Yard Milkshake Bar and Dosalas Latin Kitchen + Tequila Bar opening in the same area, the Vancouver Waterfront has welcomed several trendy businesses in recent years. But Terminal 1’s executive project sponsor said the new development will continue to bolster support for business owners.
“What we’re seeing is just really a huge influx of people that want to go check out the waterfront. So they’re down there, they’re going to the shops and are like, ‘Oh well, I’m here, so let’s have lunch over here today.’ And I just think that our success will be others’ success and vice versa,” Eder said.
He added that Terminal 1 will provide opportunities for entrepreneurs who want to launch their businesses, but aren’t ready to open a brick-and-mortar location.
Eder estimates that replacing the dock will cost up to $30 million, and the marketplace building itself could cost between $30 and $35 million.
Terminal 1 and its public marketplace are expected to open by 2028 or 2029.
