Paul's Bellingham Blog

My thoughts on Bellingham, the Real Estate market, and more

Gateway Pacific Terminal could be major boost to Whatcom County

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The Bellingham Herald recently announced the Gateway Pacific Terminals plans to start the permitting process this month. Gateway Pacific Terminal would be a full-service dry bulk commodity export-import facility on 1,092 acres in Whatcom County, located between Cherry Point Refinery and Alcoa-Intalco Works. This is an area designated by the county for heavy industry.

The Herald article indicated the process has some major hurdles to overcome and it’s expected to take about 2 years. But it’s being endorsed by all of the major political figures in Whatcom County, including the Bellingham mayor, as well as our rep, Rick Larsen.

The terminal would be a full-service export-import facility for dry bulk commodities, such as grain, potash, and coal. The terminal is designed to handle a variety of commodities.  But the big one sounds like it will be coal.

This terminal would offer literally thousands of jobs to Whatcom County during construction, and they are estimating about 500 high paying permanent jobs for Whatcom County once the project is complete. That is incredible!

This would without question be a HUGE lift to the local economy and Real Estate market. Home values in Ferndale and Blaine,closest to the facility would benefit the most, along with Bellingham.

I would estimate that if the project gets approved, it will stimulate the market before construction even begins, simply in anticipation for the demand that will be created for local housing. Since new home construction has almost completely stopped in the last 3 years, existing supply and demand would increase dramatically.

You can find out more information here. http://www.gatewaypacificterminal.com

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