During its April Board meeting, the Canaveral Port Authority Commission approved more than $60 million in construction projects, including the building of a new cruise terminal by summer of 2012, and the design of the Canaveral Cove Welcome Center, targeted for opening in 2013.
Skanska USA Building Inc, of Orlando, Florida, was chosen to build the new Cruise Terminal 6 and Tampa-based Misener Marine was selected to build new piers for cruise and cargo berths. The Commission also moved forward with revitalization of the Cove in choosing GWWO, Inc. of Baltimore, Maryland, to design the Canaveral Cove Welcome Center. The project is seen as the catalyst for development of the Cove, the Port’s entertainment district on the south side of the harbor.
“The building of a new cruise terminal, piers, and the design of the Cove project are vital to the growth of Port Canaveral, and come at a crucial time for our community,” says Joe Matheny, Chairman of the Canaveral Port Authority Commission. “The thousands of direct and indirect jobs created from these various projects will help provide local employment and tax revenue to bolster our area’s sagging economy.”
The Canaveral Port Authority in December supplemented its own revenues with a $42 million loan to take advantage of low construction costs in order to accelerate its $100 million expansion program of its cruise and cargo facilities. The low 3.14 percent interest rate loan has a term of 13 years and with the Port’s existing debt, will enable Port Canaveral to be entirely debt free in 2023.
“We have an aggressive schedule to meet during the next two years,” says Stan Payne, CEO of Port Canaveral. “This is a time of transformation for the Port as we step quickly into our future for the Port and our community.”