Tuesday, August 15, 2017

New Hotel for Vancouver USA

By Karen Robes Meeks

In 2019, a new hotel is expected to be built at Port of Vancouver USA’s Terminal 1 waterfront development.

The port Board of Commissioners recently blessed a 50-year lease with Vancouver, Washington-based Vesta Hospitality to build a 160-room AC by Marriott Hotel at Terminal 1’s Block D, a prime location bordered by the port’s Columbia River dock, the future Daniels Way pedestrian plaza, and The Waterfront Vancouver, a $1.5 billion mixed-use development.

“Vesta Hospitality shares our vision for Terminal 1 as a premier local destination, a place where neighbors and visitors are welcomed to the waterfront to enjoy all that’s great and unique about Vancouver,” said port CEO Julianna Marler. “We’re thrilled to have them as partners and look forward to breaking ground next year.”

Construction for the $40 million project is set to start in 2018.

“We’re really pleased to be working with the port and excited about building this type of hotel in Vancouver,” said Vesta Hospitality Chairman and CEO Rick Takach. “It’s different than anything else we have in Vancouver, and I’m happy to bring a new asset to my hometown. Vesta’s based here, I live here, and we’re excited to expand here.”

When fully operational, Terminal 1 will feature nearly 950,000-square feet of new mixed-use development and is anticipated to generate 800 new jobs and close to $93 million in state and local taxes over 25 years, according to the port.