The Port of Galveston has signed a Memorandum of Understanding (MoU) with Royal Caribbean Cruises Ltd. on the development and operation of a new cruise terminal.
The long-term lease negotiations could lead to a 60-year transaction: a 20-year initial term and four 10-year options, according to the port.
Based on the details revealed so far, the new terminal will cover approximately 200,000 square feet on ten acres of land in the southeast section of the port known as Pier 10. Improvements to the pier bulkhead and apron will be made to accommodate the cruise line’s largest vessels. The new facility is anticipated to open in fall 2021.
