Passengers and patrons of the Portland International Airport will soon have another option for convenient long term parking. A 3,000-space parking garage is set to open in March adjacent to the existing short-term parking garage. But perhaps the most interesting thing about this new structure is what is on top - a new sustainable headquarters facility for the Port of Portland. Our commitment to sustainable practices is showcased in the building with Leadership in Energy and Environmental Design, or LEED, Gold Certification serving as one of our project goals. In addition, the building allows us to consolidate most of our work force, bringing together all employees located in our downtown facility with those who work in the airport terminal. This will save operating costs and provide the Port with an opportunity to lease the airport terminal space to others.

No state or local tax funds were involved in the new structure. The total cost of the building is $241 million, with $156 million of that for the parking garage, pedestrian tunnels and related utilities, and $85 million for the offices. The new garage is funded with a combination of available working capital in the PDX Port cost center and revenues from the Port cost center which includes parking, rental car, air cargo, and other revenues collected at the airport. The office building is funded with a combination of available working capital in the PDX Port cost center and airport revenue bonds paid for by the Port cost center.