Item No.: 8c_Supp Date: January 22, 2019 Fishermen's Terminal Gateway Building Design January 22, 2019 New Development at Fishermen's Terminal • Requesting authorization to continue design work on 60,000 square foot planned light industrial building at entrance to Fishermen's Terminal • Part of FT Long-Term Strategic Plan developed in 2016 2 Maritime Manufacturing & Supplier Facility • Gateway Building will Support growth of commercial fishing and Maritime Cluster o Industrial property in Ballard/Interbay area in short supply o Rising rents and building sales prices o Fishing tenants want suppliers at or near FT Port of Kalama Flex Industrial Building 3 Go to Market Strategy • Industrial development typically does not lend itself to preleasing: o Nearly all light industrial developments initiate construction on a spec basis with no tenant agreement in place o Smaller tenants can't/don't want to commit to a lease with a long lead schedule o The buildings are simple and without tenants the design and construction is quicker o Pre-leasing results in lower rents overall and greater tenant concessions • Demand for space continues to be very strong Modernizing Fishermen's Terminal 4 Project Timeline Community Engagement * Commission Approval Planning / Notebook Design Construction Fishermen's Terminal Gateway Building to be Completed by Q3 2022 5 Tenant Leasing Strategy/Timing • Every time we discuss or do anything at FT we get inquiries from prospective tenants: o During previous FT Planning process o During Net Shed demolition planning and Commission Approval • Today's action will generate new/renewed interest • Staff will select tenants and negotiate leases as construction unfolds Modernizing Fishermen's terminal 6 Proposed Gateway Building Area 7 Existing Bank Building and Net Sheds 7 & 8 to be demolished Parking Area Gateway Building Area Net Shed 7 Net Shed 8 Bank Building Gateway Building Area Existing Condition 8 Proposed Gateway Building Area 9 Long Term Facility Plan 10 APPENDIX 11 Environmental Graphics Installation of displays is part of development project 12 A Living Landmark Fishermen's Trail markers. Each unique. Activities for children Leveraging existing retail Reflective mirror tile mosaics Schematic concept for trail marker Pavement markings for self-guided tour Instructions to get more info on a phone / tablet Existing Condition Improved Wayfinding 13 Public Relations, marketing and Tourism Development Plan • Digital Advertising • 15th Ave Billboard • Visits to the Website and Terminal Telling the story of commercial fishing without interfering with industrial operations 14 Digital Campaigns Separate Initiative but coordinated with development project 15 Retailer Profiles Separate Initiative but coordinated with development project 16 15th Avenue Billboard Separate Initiative but coordinated with development project 17