The Port of Seattle Commission recently voted to purchase Salmon Bay Marina for $15.7 million.
The five-acre marina, supporting 166 marina slips, is located beside the port’s Fishermen’s Terminal facility.
The marina has been privately owned for the past 72 years. The site is capable of supporting 60,000 square feet light industrial facilities that could support the area’s maritime and manufacturing companies.
The slips will be maintained. Houseboats at the marina, however, will be moved before the port takes possession in 45 to 180 days after the deal closes.
Environmental remediation from prior tenants is projected to cost $900,000.
“The purchase of Salmon Bay Marina is a step toward fulfilling our Century Agenda goal to double the number of jobs in our region associated with fishing and maritime and is financially smart for the Port,” Commission President Tom Albro said. “It also protects urban industrial and maritime land, which is also environmentally wise.”
The marina will be maintained by the port’s Recreational Boating Department.
Prior to taking possession of the property, the port will review moorage rates and will make rate changes based on the market and slip sizes.
Marina customers also will be required to pay the state’s 12.84 percent monthly leasehold tax for those leasing public property.