The Waterfront Development Project will create an entirely new life style for Bellingham Washington. Please go to "local news" which contains an "Executive Summary" on the initial land use in 2005 for this project covering 220 acreas. This post will be an update on the timing and scope of the project considering the local and national economy. What has not changed is the impact this development will have on the economics and life style of this community and adjacent property values. The most significant life style enhancement will be the opportunity to walk or bike from Fairhaven to the Project on two over-the-water boardwalks and continue on to the Hotel Bellwether Complex (upper left hand corner) in a traffic free environment.
Before the 220 waterfront acres will be available for private investment the city must build the necessary street connections to the property which are estimated to cost $78 million. The Waterfront Development Committee expects to have a draft of the plans available by the end of 2011. Initially the port and city officials envisioned the creation of 6 million square feet of new residential, retail, light indutrial and office space on the waterfront, more than six times the square footage at Bellis Fair Mall within 20-30 years. The new plan expects redevelopment by the end of 2025 that would total 3.5 million square feet, if the city can find ways to pay for the street projects that would make that possible. The plan still suggests that the southern portion of the waterfront site, in and around the port's shipping terminal will eventually be redeveloped for mixed use, but there is no date estimated for that development, which could potentially accomodate another 3 million square feet of buildings. The first area of development for high rise condo's could be in the lower left hand corner once this park area is clear of contaniments. The second over-the-water boardwalk terminates at that park.
