Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Galveston Port Starts Work on 4th Cruise Terminal
Galveston Wharves and Switzerland-based MSC Cruises, the world’s third-largest cruise line, started work on the Port of Galveston’s fourth cruise terminal.
The $151 million project at Pier 16 will include a 165,000-square-foot terminal and a $55 million parking garage. The port will develop the project using cash reserves and revenue bonds. MSC’s 20-year operating agreement for the terminal includes four five-year extension options.
The project is slated to be completed in time for the MSC Seascape to homeport at the new terminal in November 2025. That will make Galveston MSC’s fourth homeport in the U.S., joining those in Miami, Port Canaveral, Florida, and New York City.
The MSC Seascape is the newest vessel in the company’s Seaside class of ships, which were designed specifically for Caribbean cruising and feature enlarged and enhanced outdoor spaces. Launched in 2022, MSC Seascape can accommodate 5,632 passengers and 1,648 crew members.
Nationwide, Galveston is the fourth-busiest port for cruises.
- ◦Development
- ◦Financing