Port's North Bay project gets go-ahead

The Seattle Port Commission today approved a plan to bring a new generation of jobs, industries and public benefits to property formerly used to store imported cars and fishing nets.

The commission agreed to go forward with development plans for the 57-acre North Bay site in the Interbay area north of the Magnolia Bridge.

The North Bay project is designed to bring 2.2 million square feet of research and development and related manufacturing activity to the site, along with 1.1 million square feet of office space and 100,000 square feet of retail. The plan also calls for nearly doubling the space for maritime activities already using the site.

"This proposal reserves ample space for existing and future maritime uses and provides room for new activities that will bring up to 10,000 new jobs and $2-3 billion dollars in private investment to the region," said Port of Seattle Commission President Bob Edwards. "It also keeps all of Piers 90 and 91 in maritime related uses."

Port Commissioners earlier had decided not to develop housing on the site.

"The consensus among the Commissioners was that we wanted North Bay to focus on job creation and industrial activities," Edwards said.

The North Bay project will preserve and enhance the greenbelt along the east side of the Magnolia neighborhood and provide pedestrian access between Magnolia and an expanded walkway and bike trail. Other features will include a sustainable stormwater management system integrated into the greenbelt. Additional landscaped open space as well as plazas, courtyards and waterfront access will be provided throughout the site. Clean up of contaminated areas within the site also is planned.

The site would be developed over a period of 20 to 25 years and provide the Port with a return of about $77 million. The project would generate an estimated $162 million in tax revenue to the city, county and state. The project must be approved by the City of Seattle before the Port can begin work.

"Interbay has been one of Seattle's historic employment centers," said Port of Seattle Mic Dinsmore. "The North Bay project will help re-establish the area as a place that provides good jobs in growing industries that will help grow our region's economy for decades to come."