April 25, 2005
Staff Report On Burnside Bridgehead Released
Developer To Be Selected Wednesday Afternoon
Last this afternoon, the Portland Development Commission posted the staff report on the three proposals for the Burnside Bridgehead project.
This report comes two weeks after the findings of the evaluation committee (pdf) which recommended, with conditions, that PDC select Beam Development, and two days before PDC's board meets to take final testimony and make its developer selection.
We've only done one quick read-through of the staff report. On the whole, it takes the form of specifying which developer the staff believes would be the best pick depending on what PDC sees as the most important criteria.
For example, the staff says that if PDC "wants the most experienced developer and is willing to take the risk of a substantially higher financing gap and thus explore options such as constructing the project in phases or not including office space" then it should choose Gerding/Edlen; if PDC "wants the lowest-risk proposal, i.e., the one most likely to be able to deliver their proposed mix of uses and with the lowest public investment" then it should choose Opus Northwest; and if PDC "supports the vision proposed by Beam Development and feels it would create the greatest social return for the neighborhood and the city and is willing to undertake the risk posed by innovative uses and a less experienced Master Developer" then it should choose Beam Development.
PDC's meeting this week begins at 3:00 PM and will be held at its headquarters, located at 222 NW 5th Avenue in downtown Portland. Their selection of a Bridgehead developer is the final item on the meeting agenda.
Comments (1)
Suzii on 25 Apr 2005
That's "at 3 p.m. Wednesday." (I know, I'm probably the only one who both cares and doesn't already know, right?)