Photo New plans for a large 12-building development in the Columbia Palisades show an “open-air lifestyle” space with many walkable pathways and underground parking on the 14.5-acre site. Romano Capital Inc. and Cascadia Development Partners, both Vancouver-based developers for the project, are building just north of Highway 14 and to the east of 192nd Street — in the former Fisher’s Quarry. They are creating up to 158 hotel rooms, 280 condo units, 470 apartments (with 10 percent affordable), 80,000 square feet of office space and 120,000 square feet of retail space. With construction likely to begin in late 2024 or early 2025 in yet-to-be-determined phases, the buildings’ final designs have not yet been decided. The building heights will be between five and seven stories. “It’s an ideal area to fuse Camas and Vancouver,” said Kess Romano, CEO of Romano Capital.” It will have walkability and highly desirable restaurants – a similar feel to The Waterfront Vancouver.” The project is part of a larger development corridor that includes the under-construction Kirkland hotel to the east and a large multi-building development from Hurley Development just to the west of 192nd Street.

The development area is also under consideration for an extension of the Multifamily Tax Exemption program, which offers developers a tax exemption for having 20 percent of their units available only for households earning less than the area’s median family income for eight to 12 years. The city of Vancouver is still accepting public comments for the expansion until the end of April and will revisit the idea in the summer. In terms of the timing of this development, David Copenhaver, president and partner at Cascadia Development Partners, said it’s hitting a good moment in the peaks and troughs of the economy’s swing. “We believe this is the time when you want to design and title,” Copenhaver said. “These cycles don’t last forever.”