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The Port of Vancouver USA on Tuesday named Vesta Hospitality the preferred developer for the port’s Terminal 1 property.

Vesta Hospitality President and CEO Rick Takach Jr. said he plans to build a 150-room AC Hotel by Marriott. Takach said his successful bid benefited from the inclusion of Marriott, architecture firm DLR Group and construction firm Deacon Corp.

鈥淚’m bringing a very experienced team to the table at this point,鈥� he said. 鈥淲e worked very, very hard to put our best foot forward.鈥�

Also, the port has chosen Holland Partner Group to serve as the master developer of a mixed-use complex at Terminal 1. The firm has developed several projects in Hillsboro and Wilsonville, and has also developed projects in Seattle’s South Lake Union neighborhood, and in Los Angeles, San Diego and Denver.

The mixed-use project at Terminal 1 could include office, retail and residential space. The port and the developers will refine a comprehensive development plan with the goal of breaking ground in mid-2017, said Katy Brooks, the port’s economic development director.

鈥淚t’s a very aggressive timeline, but that’s what we’re shooting for,鈥� she said.

Takach cautioned that a long-term land lease still must be negotiated and a final vote by port commissioners must take place. But he said port officials and Vesta share a common vision.

鈥淢y expectation is that we will be able to get this done without too much of a problem, because everybody’s on the same page,鈥� he said.

Takach is a longtime Vancouver developer. Vesta also owns the Homewood Suites by Hilton, which opened along the Columbia River in 1997. Takach said his local experience gave him an edge in the bidding.

鈥淭hey’re looking for someone that could be available,鈥� he said. 鈥淲e’re obviously very available 鈥� I can see the site from my office.鈥�

The Terminal 1 site is near a former Red Lion hotel on the Columbia River. A portion of the structure is being converted into the Columbia River Life Sciences Building 鈥� a planned hub for biotech companies. AbSci has signed a lease agreement, and will move in soon, said Abbi Russell, communications manager for the port.

Takach said he has invested in the Homewood Suites property and its employees over the years, and that he plans to do the same with the AC Hotel.

鈥淭his is not a buy and flip for me,鈥� he said. 鈥淭his is a long-term hold.鈥�

Construction of the AC Hotel is expected to cost $25 million to $30 million, Takach said. A rooftop deck is being considered for the European-inspired hotel.

The AC Hotel will have some meeting space, but Takach said he’s not trying to take business from Vancouver’s existing hotels.

鈥淲e’re not going to build so much meeting space that we’re trying to compete,鈥� he said. 鈥淲e just want to build enough that we could do some high-end corporate meetings.鈥�

Separately, Takach closed Tuesday on a purchase of the 148-room Best Western Agate Beach Inn in Newport. He declined to reveal the purchase price, but said he plans to invest about $6.5 million in improvements.

鈥淚t could be a little jewel,鈥� he said.

The plan is to renovate guest rooms, the lobby, the exterior, and food and beverage operations. Takach said he would rely on Texas-based Plant茅s Hotel Renovation Inc. for the project.