New development plan — The Palisades — planned for east Vancouver

A photo of the area that is set to become the Palisades, located on the 192nd corridor, just off State Route 14, in east Vancouver. Photo courtesy Romano Capital

The 14-acre site, which will include restaurants, retail and office space, and more, sits on former rock quarry

A new development plan in east Vancouver has been submitted to the city, and that plan calls for 14 acres of space for retail, restaurants, offices, hotel, and multi-family residential units.

The Palisades will be located on the 192nd corridor, just off State Route 14, with open space, parks, trails, and views of the Columbia River.

Romano Capital Inc. and Cascadia Development Partners announced the submission last week.

“We are excited to create a new dynamic center for a rapidly growing community,” said David Copenhaver, president and partner at Cascadia Development Partners. “The junction of Camas and East Vancouver is a highly accessible area with a large concentration of major employers, housing, and new development. A development this size in a rapidly growing market is a truly unique opportunity.”

This is a rendering of what the Palisades might look like after it is completed. The plan is for 14 acres of office and retail space, multi-family residential units, and a park and a walkway. Image courtesy Romano Capital

The area has already seen substantial growth in recent years. Research, according to a press release from the partners, indicates that population growth is expected to be at 1.21 percent year over year for the next five years. Those numbers make the Palisades one of the most desirable submarkets in the Vancouver-Portland metropolitan area.

The Palisades site sits on a former rock quarry that began the process of reclamation in 2011.

“This development aims to fuse suburban living with urban-style amenities. The project will provide residents with walkable access to local businesses and restaurants while also being close to the PDX airport and Columbia (River) Gorge,” said Kess Romano, CEO of Romano Capital. “We are dedicated to delivering dependable investment opportunities while contributing to the growth of the community. The Palisades development is precisely the type of project that aligns with these values.”