TERMINAL 5: Northwest Seaport Alliance to finalize lease for second berth

July 30, 2023 11:03 pm
|    Comments Off on TERMINAL 5: Northwest Seaport Alliance to finalize lease for second berth
 |   West Seattle news

(NWSA photo)

When Seattle and Tacoma port commissioners meet Tuesday (August 1st) as Northwest Seaport Alliance managing members, updates on West Seattle’s Terminal 5 are a big part of the agenda. A year and a half after the first “modernized” berth at T-5 opened to cargo traffic, construction continues on its second berth, now expected to be ready early next year. At Tuesday’s meeting, a vote is planned to finalize leasing the second berth to the same operator as the first, SSA Terminals. Rent to start will be almost $2 million a month, according to documents attached to the meeting agenda, including the lease. Terms of the lease also include obligations on both sides for various components of the project, including two new cranes that SSA has ordered, now expected to be delivered in October, plus a six-acre container-storage yard expansion. The total cost of modernizing both berths, some of which is covered by grants, is now estimated at $454 million, according to a general T-5 progress report that’s also planned at the NWSA managing members’ meeting, which starts at 11:30 am Tuesday and will be viewable online.

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