Washington Gov. Bob Ferguson is expected to put hard numbers on a long-simmering question today: what the new I-5 Interstate Bridge is really going to cost. At a press conference in Vancouver, he is set to outline the latest plans for the bi-state replacement project while the program finally releases a full cost estimate that had been on ice during federal reviews. The updated numbers, paired with a federal funding deadline this fall, are pushing Oregon and Washington leaders to decide this year whether the project actually moves into construction.
According to KGW, Ferguson will brief reporters in Vancouver at 11 a.m. Tuesday, with the IBR Executive Steering Group expected to put its updated cost figure on the record during the event. KGW reports that the station plans to livestream the governor's remarks for viewers across the Portland-Vancouver region.
Price Tag Spikes Into Double Digits
Documents obtained and analyzed by independent researchers show that the fixed-span option now carries a "most likely" price of about $13.6 billion in year-of-expenditure dollars, with a possible range up to $17.7 billion, according to City Observatory. That figure is more than twice the program's 2022 estimate of roughly $6 billion and creates a multibillion-dollar funding gap that the two states will have to figure out how to plug.
What The Coast Guard Ruling Shook Loose
In January, the U.S. Coast Guard approved a lower 116-foot fixed-span design, a move supporters say trims costs and avoids the traffic delays that come with a lift bridge, according to OPB. In a statement, Gov. Bob Ferguson called the Coast Guard's call "the right decision for our economy."
What The Mega-Project Actually Builds
The draft environmental documents describe a multimodal corridor that would extend light rail from the Portland Expo Center into Vancouver, upgrade several interchanges along roughly five miles of I-5, and add new arterial and transit bridges serving Hayden Island, according to the IBR program's draft SEIS. The plan also envisions three new bridge crossings and additional transit stations to tighten the links between the two metro areas.
Timeline Trouble And A Federal Funding Cliff
Independent analysis and program documents indicate that more than $2 billion in federal grants hinge on starting construction in late 2026, which leaves little room if Oregon and Washington decide to redesign or significantly scale the project, City Observatory reports. If that schedule slips, the states could be forced to cover an even larger financing gap or risk losing a major slice of anticipated federal aid.
What Has To Happen Before Shovels Hit Dirt
IBR planning slides lay out the steps that come next: securing a revised Coast Guard clearance if needed, completing a final supplemental environmental review, and issuing an amended Record of Decision, followed by procurement to hire a construction contractor in mid-to-late 2026 if the schedule holds, according to the program's Joint Advisory Group presentation. Those moves are designed to lock in federal grants and move the program toward construction, even as leaders confront politically tough decisions about the project's scope and how to pay for it.
Where To Watch The Numbers Drop
KGW plans to stream the governor's Vancouver briefing live at 11 a.m., including the release of the IBR program's latest cost estimate, according to KGW. We will update this story after the press conference and once the IBR program publishes the full estimate and schedule.
