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Anacortes seeks funding for a 400-seat Capstan Arena event venue on the waterfront
Summary
The city of Anacortes proposed a Capstan Arena event venue near downtown and the marina to restore regional event capacity, support tourism and create jobs; city officials said they have roughly $1.5 million in lodging-tax capital and are seeking additional funding.
John Coleman, director of planning, community and economic development for the city of Anacortes, presented a proposal for an event venue at the Capstan waterfront on May 30.
Coleman said the project responds to the loss of a prior event center and would create a medium-to-large event venue with approximately 400 seats and an adjoining plaza for overflow. The site is two blocks from the historic downtown and a block south of Depot Plaza and the farmers market; city and port leaders expect pedestrian improvements between downtown and the new venue.
The city and Port of Anacortes have been coordinating on property transfers, site plans and interlocal agreements since late 2023. Coleman said the city has accumulated about $1.5 million in its lodging-tax fund earmarked for the project and intends to use lodging-tax revenue to backfill any bond financing. He estimated the project cost in the $9 million to $12 million range and said additional funding is critical to advance design and construction.
The city projected the venue would support construction and service jobs and estimated roughly 75 jobs by year four of operation. Coleman said shoreline permitting and related approvals are included in the project timeline, and the city anticipates completing the planning phase and moving into design and engineering later in the year.
Next steps: the city asked the committee for funding support to move the project into design; committee members asked about permitting timelines and funding sequencing.
