115 Million Project Scrapped As The Portland Centennial Mills Heads Back To Drawing Board

Dated: 11/19/2015

Views: 528

A much-anticipated Broadway Bridge-adjacent project appears to be, again, dormant.


As the Oregonian reports, the Portland Development Commission has told Harsch Investment Properties that plans the two sides had for Centennial Mills "are no longer practical."


The Centennial Mills project is up in the air after the city deemed its participation in the effort "no longer practical."                                                            Enlarge

                                                            The Centennial Mills project is up in the air after the city deemed its participation in… more


PDC Executive Director Patrick Quinton, in a letter to Harsch's Jordan Schnitzer, said "the landscape and development options and budget have dramatically changed during this time. Now that we have a better picture of the demolition costs, the plans for the Mounted Police Unit site and the size of the remaining public resources available for the project, the original development concepts" can't be completed.


The project promised an entry to an underutilized section of the city that, because of its riverfront access and proximity to the Pearl District, could one day bustle.


Schnitzer had pitched a $115 million project for the site that included preserving two of the existing 12 structures while adding 24,000 square feet of retail space, 80,000 square feet of office space and 120,000 square feet of residential space.


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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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