VANCOUVER, WA-City Government is close to owning the western half of the U.S. Army’s 151-year-old Vancouver Barracks.

The House of Representatives approved legislation this week, and the Senate was expected to follow suit authorizing Army Secretary Louis Caldera to transfer the western half of the property at no cost to the city. The secretary will transfer the west barracks to the city as soon as next spring. The city wants to redevelop much of the property. To date, it has committed to spend $6 million to install new sewers, roads and other infrastructure.

Also this week, President Clinton signed a spending bill that containing $60 million for Washington projects, including $2 million for preserving buildings at the west barracks. The Vancouver National Historic Reserve is heading up efforts to raise – from both public and private sources – the remaining 85 percent of the estimated $40 million restoration bill.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt Net Lease Spring 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.