The Port of Seattle Commission voted last week to temporarily suspend construction on the $400 million consolidated rental car facility.

The ongoing downturn in the credit market means the agency cannot sell the taxable, long-term bonds needed to finance the project, according to officials.

For Highline residents, the biggest impact of the construction would have been increased traffic construction around the site at South 160th Street and International Boulevard for the next couple of years.

The facility was expected to be completed in 2011.

The project would have created up to 3,000 jobs during construction.

"The Port is in the business of building major infrastructure facilities that create jobs, so today's decision is particularly difficult," said Commission President John Creighton. "I look forward to the date when the global economy recovers, we can finance this project and welcome construction workers back on the job."

In October, the Port Commission voted to use $20 million in general airport funds to keep the project on schedule for a few more months, with the hope that economic conditions would improve.

The vote suspends the project for up to one year until long-term financing can be found.

Turner Construction, the prime contractor for the project, will complete stormwater and temporary erosion and sediment control measures and will maintain the stormwater quality treatment facility during the suspension.

The facility is designed with space for 5,400 vehicles with all rental agencies serving the airport consolidated at the site.

There would be areas to wash, fuel and maintain the vehicles.

A customer service area would feature Wi-Fi, express check-in areas and flight-information displays.

Customers would be shuttled to and from the airport in buses fueled by compressed natural gas.

Moving rental-car companies out of the airport garage would free up space for more parking, Port officials said.

The five largest companies now occupy two of the garage's eight floors.