The entire project could amount to an $80 million investment. Port Tampa engineers say the three existing cruise terminals are near capacity and a fourth one needs to be built ‘without interrupting current operations.’

Port commissioners on Tuesday approved a $500,000 contract with HDR Engineering Inc. to perform engineering and design work on the new terminal, which would be located north of Terminal 6 and directly south of Darryl Shaw’s planned multiuse development called Ybor Harbor. A man-made slip would be filled in to allow for the project. 

Funding sources could include everything from grants to private co-investors. Cruise lines have already expressed interest, but port officials declined to identify the specific companies and describe the cost-share agreement. 

The Tampa Bay Journal reports that Port Tampa Bay also plans to demolish Terminal 6 and replace it with a new building after the fourth terminal is completed. Although it was recently refurbished, some cruise lines see Terminal 6 as outdated.