The property is located adjacent to State Route 501 between Vancouver Lake and the Columbia River. At 1,094 acres, it is the largest undeveloped industrial property under a single ownership in the Portland metropolitan area.

Currently, 552 acres are zoned heavy industrial and 542 acres are zoned for an industrial park. The Port sees the land as viable for marine operations, manufacturing, storage, distribution, packaging, R&D, and business park use.

The port already has spent $1.1 million for a draft environmental impact study that offers four development alternatives. The port commission is slated produce a final EIS and select a preferred alternative before the end of the year. The property is slated to be developed over the next five years.

The extra research is at the behest of the state Department of Fish and Wildlife, which criticized the draft EIS. Responding to the agency's concerns, Port and City officials want, among other things, more information for its final EIS about how marine and industrial development on the property's wetlands and uplands--and the recreation of those wetlands elsewhere--would affect existing wildlife habitat, including that of the bald eagle and great blue heron, both of which reside on the property.

The eagles are protected under the Endangered Species Act, and the port must either obtain a federal permit that would allow it to relocate the nest or protect a buffer zone of up to a half-mile around the nest. The latter would put about 500 acres off limits.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.