Three contenders angle for bridgehead site
Three private developers have submitted proposals to the Portland Development Commission for the five-block site at the east end of the Burnside Bridge. They are:
• The Gerding/Edlen Development Co., which is proposing a $221 million project anchored by a Home Depot and an office for Ziba Design. Gerding/Edlen is seeking more than $45 million in tax credits and other public subsidies for the project, which also would include additional retail stores, office space and 501 housing units.
• Opus-Northwest Development, which is proposing a $154 million development anchored by a Lowe's. Opus-Northwest is asking the city to sell the land for the project for $4.8 million, several million dollars less than the amount the city will have to pay to prepare the site for development. It also would include additional retail stores, office space and 421 housing units.
• Beam Development, which is proposing a $221 million development geared toward locally owned businesses, including Oregon Wind, a wind energy generating company; See Spot, a film production company; and Technical Assistance for Community Services, which provides training and support services for nonprofit agencies. Beam Development is asking for more than $7 million in subsidies. The project also would feature 577 housing units, including an 'artists' incubator' comprised of a dormitory-style building marketed to artists that would be run by an artists' council.
Ñ Jim Redden