Urban PortsAngst and Opportunity

CRE The Counselors of Real EstateMid Year Meetings

Tuesday May 25, 2010Seattle, WA

Eric Hanson, Manager, Seaport Planning, Port of Seattle hanson.e@portseattle.org

Agenda

• A smidge about Port governance structure• How do Ports think about themselves• Evolution of Port issues in urban settings• Areas of conflict • Areas of opportunity• The “take away”– What you may wish to consider when dealing with

Ports

Aviation Seaport Real Estate Capital Development

King County Voters Commissioners

CEO

There is no national structure for Port governance!

Port of Seattle Governance Structure

Many Different BusinessesMany Different Businesses

Third RunwayThird Runway

Container Terminals

Container Terminals

How the Port benefitsKing County citizens

How the Port benefitsKing County citizens

• 194,000 jobs

• $17.6 billion in business revenues

• $9.5 billion in income and spending

• $867 million in state and local taxes

• 194,000 jobs

• $17.6 billion in business revenues

• $9.5 billion in income and spending

• $867 million in state and local taxes

Traditional Measurement of Port Success

Questions?

Evolution of Port Issues

Alaskan Gold Rush

Seattle Today

Physical and Mental Shifts

The City matures and becomes more diverse

Maritime influence declines significantly

Efficiencies in cargo handling=

Reduction in the workforce

Registered “A” Longshoremen 1965 = 1,360

Registered “A” Longshoremen 2009 = 518

62% reduction in the workforce

Efficiencies in cargo handling=

Reduction in the workforce

Registered “A” Longshoremen 1965 = 1,360

Registered “A” Longshoremen 2009 = 518

62% reduction in the workforce

Negative Impacts

More Public Good

Stimulate local retail sales

Provide Public Access to the shoreline

Grade separate roads and rail

Go green in everything we do

20 Public Parks20 Public Parks

Habitat Restoration

Questions….

Downtown

Terminal 5 Terminal 18

Terminal 46

Terminal 91

Residential

Residential

IndustrialWarehousing

Stadiums and Commercial

Major Highways

Residential Residential

N

Areas of Conflict

RESIDENTIAL ?

Areas for OpportunityRe-developing the Old Harbor

Seattle, WA

Everett, WA

Bellingham, WA

The Take Aways

• Ports provide PHENOMANAL opportunities!• Respect areas where Industry is viable– It may not be pretty but it is essential

• Ports can be schizophrenic organizations– Balancing multiple goals is often a moving target– Be patient

• The land is almost always contaminated– Partner to create that needed public benefit

• Consider something REALLY GREEN