Construction progressing on $1.5 billion Vancouver waterfront project


Vancouver is building a billion dollar waterfront with scenic views and plenty of things for visitors to do.

The project costs $1.5 billion. The City of Vancouver is collaborating with Waterfront LLC and Gramor Development in order to fund it.

The demolition is already done and the foundation has been laid down. Now, the framing is underway.

Once complete, the new waterfront will be more than just a tourist destination. It will be more like a city center with residential units, a boutique hotel, offices, restaurants, and retail spaces that will overlook the Columbia River.

Developers hope it will give the region's economy a major. But more than that, they're hoping it transforms the way locals look at Vancouver.

"You know, people have their own perceptions of Vancouver and downtown Vancouver, and you know, a lot of that was because of having that old paper plant here. It really held back downtown Vancouver," said Barry Cain, President of Gramor Development. "But there's really not a big difference between the people who live in Vancouver and the people who live in Portland."

Cain says Vancouver residents made it clear by approving the project that they want an urban lifestyle.

While the new waterfront will meet practical needs, it will also help showcase the natural beauty of the Columbia River.

The first buildings along the waterfront are scheduled to open in spring of 2018.

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