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The ceremony for both will be at 11:45 a.m. north of the Black Ball warehouse, directly across Railroad Avenue from the ferry terminal inspection station.
The newly constructed $4 million Coho ferry dock has been open to southbound ferry traffic since a May 1 soft opening.
The sidewalk opening in an area that has been closed since October will allow pedestrian traffic on West Railroad Avenue from both South Laurel and North Oak streets.
Pacific Rim Hobby at the corner of Railroad Avenue and North Oak Street will offer free cake under a tent in the hobby shop's gravel parking lot.
It also will have model-train demonstrations and give away a $220 radio-controlled model P-51D Mustang fighter plane with a 39-inch wingspan.
Free hot dogs
Barhop Brewing & Taproom at 124 W. Railroad Ave. will provide free hot dogs.
Gift certificates from the brewery and from Necessities and Temptations gift shop at the corner of Railroad and Laurel Street will be given away, along with trips to Victoria and Butchart Garden tours.
KONP radio will broadcast live between 11 a.m. and 2 p.m.
The new sidewalk on the south side of Railroad Avenue is part of the city's $3.9 million esplanade construction project, which will add a concrete promenade running parallel to Railroad and stretching out over the water to the north.
The project, expected to wrap up later this summer, also will improve the sidewalk along the west and east sides of Oak Street between First Street and Railroad Avenue.