Travis George, Director of Capital Finance and Treasury
Port of Portland Investor Relations
Port of Portland Investor Relations
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The Port is undertaking a substantial improvement to the terminal with the Terminal Core Redevelopment Project (“TCore Project”). When completed, this project is expected to provide sufficient ticketing, security screening and concessions to accommodate projected passenger growth that is expected to reach up to 35 million annual passengers in 2045. The TCore Project has a projected total budget of approximately $1.95 billion and consists of two major components: (1) the Western Expansion/Ticket Lobby (the “Western Expansion”) and (2) the Rebuild Terminal Nodes/Ticket Lobby. The TCore Project includes a major redevelopment of the Airport’s terminal, including the Western Expansion, which consists of construction of a western expansion of the main terminal into the alley between Concourses C and D; construction of a new, mass timber roof over the existing terminal and the Western Expansion; rehabilitation of the existing terminal core, including improvements to the existing ticket lobby and baggage handling systems; and major seismic upgrades and renewal of mechanical, electrical and other systems. The updated terminal is expected to provide flexibility to allow for simpler reconfigurations while possibly avoiding major reconstruction in the future to react to changes in passenger processing, security checkpoint equipment and operational changes.
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