The Port of Seattle has purchased Salmon Bay Marina, a privately-owned operation on five acres just to the west of Fishermen’s Terminal. The price: $15.6 million.
The Port said it bought the marina to protect maritime industrial land and support the growth of Fishermen’s Terminal. The Port has set a goal to double the size of the “commercial fishing business cluster” at Fishermen’s Terminal (you can see the Port’s plans here).
With five docks that support 166 slips, Salmon Bay Marina has been privately owned by the Draper family for 72 years. With the change to public ownership, the Port plans to remove houseboats but continue to serve other boats moored at the facility. The Port is also exploring the potential for “light industrial facilities that could support maritime and manufacturing companies in the area.”
“Salmon Bay Marina is a valuable waterfront property perfectly suited for continued maritime use,” said Eugene Wasserman, President of the North Seattle Industrial Association, in the Port’s press release. “I thank the Port of Seattle for preserving this industrial property that will provide jobs and tax revenue throughout our region.”
A study found commercial fishing activity at Fishermen’s Terminal generates $450 million in business revenue and nearly $40 million in state and local taxes every year, according to the Port of Seattle. The Port says it plans to take over operations at Salmon Bay Marina when the deal closes in 45 to 180 days.