Urban Ports Angst and Opportunity CRE The Counselors of Real Estate Mid Year Meetings Tuesday May 25, 2010 Seattle, WA Eric Hanson, Manager, Seaport Planning, Port of Seattle

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

AviationSeaportReal Estate Capital Development King County VotersCommissioners CEO There is no national structure for Port governance! Port of Seattle Governance Structure

Many Different Businesses

Third Runway Container Terminals Container Terminals

How the Port benefits King 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 = % reduction in the workforce

Efficiencies in cargo handling = Reduction in the workforce Registered “A” Longshoremen 1965 = 1,360 Registered “A” Longshoremen 2009 = % 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 Parks Habitat Restoration

Questions….

Downtown Terminal 5 Terminal 18 Terminal 46 Terminal 91 Residential Industrial Warehousing Stadiums and Commercial Major Highways Residential N Areas of Conflict

RESIDENTIAL ?

Areas for Opportunity Re-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