The Port considers the 73 road, rail, transit, environmental and waterway improvement projects, totaling $716.5 million, as vital to maintaining efficient access to its seaport, airport and industrial park properties and supporting facilities. The projects' submission to Metro and ODOT ensures the projects are considered for outside funding through the State and Metropolitan Transportation Improvement Plan processes.
Most of the projects included in the TIP are located in the Columbia Intermodal Corridor, a high density, road and rail route in north and northeast Portland that carries more than 25,000 vehicles and 35 trains per day. This primary east-west route serves Portland International Airport and the Rivergate Industrial District. The corridor is home to about 96% of Oregon's and southwest Washington's key freight industries.
According to Port executive director Bill Wyatt, more than 10% of the region's workforce is employed in distribution and logistics-related businesses that depend on accessible roads and railways for moving freight, such as in the Columbia Intermodal Corridor. "Efficient freight mobility, distribution and market access are strategic elements for this region's industries. If the region's employers are constrained by our transportation system, many may relocate, taking critical revenues, jobs and tax dollars with them," he says.
The CIC's primary candidates for funding include: eight road-related air cargo access projects; four other road-related improvements, including an engineering analysis for a full interchange at Columbia Boulevard and Interstate 5; a major rail yard development in Rivergate; a grade separation in Rivergate; and completion of the 40-Mile-Loop bicycle/pedestrian pathway in Rivergate.
Also included in this year's PTIP is the approximately $148-million project to deepen the lower Columbia River navigation channel by three feet so that today's larger cargo ships can leave the river more fully loaded with exports. Funding for this project will come primarily from congressional appropriations, with Oregon and Washington each paying $27.7 million toward the combined "local match."
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
Already have an account? Sign In Now
© 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.
