February 20, 2007

PDC Issues Request for Proposals for Development of Parcels at Riverplace

Blocks 8 and 3 are the Last Remaining Development Parcels in the RiverPlace Neighborhood

The Portland Development Commission (PDC) has issued a Request for Proposals (RFP) for the purchase and redevelopment of a full city block at RiverPlace, Portland’s downtown waterfront neighborhood. The 52,607 square foot site, referred to as Parcel 8, provides a unique development opportunity just two blocks from the Willamette River and the four-acre award winning South Waterfront Park. Parcel is located immediately south of The Strand condominium development.

Parcel 8 is one of the last remaining development parcels in the heart of the RiverPlace neighborhood, which is part of the North Macadam Urban Renewal Area (URA). It is located adjacent to the recently completed $100 million Strand condominium development, a yet-to-be-named waterfront restaurant and a parking structure for residential and commercial parking. A Portland Streetcar stop immediately to the south of the site provides convenient public transit service.

PDC intends to remain flexible on the development program for the property and to allow a mix of residential and/or commercial (officer or retail) uses. Development proposals are expected to be distinctive in design, supportive of the pedestrian-oriented nature of the established neighborhood and LEED certified. 

The RFP is unique in that the selected Developer will have the opportunity for a First Right of Offer on RiverPlace Parcel 3. Parcel 3 is a 2.10 acre property located across SW River Parkway and immediately south of Parcel 8.  Program requirements for Parcel 3 will include 100 units of affordable housing and ground-floor retail, with a strong preference for a grocery store, to serve the growing RiverPlace and South Waterfront neighborhoods. 

Proposals are due at PDC no later than 4:00 p.m. on Friday, April 6, 2007. The full RFP can be viewed and downloaded from PDC’s website at www.pdc.us/rfp.  Questions about the RFP can be directed to Geraldene Moyle, PDC, at 503-823-3420 or moyleg@pdc.us. 

RiverPlace was the first area within the North Macadam URA to undergo redevelopment. PDC acquired 73 acres of undeveloped waterfront land between the Marquam and Hawthorne Bridges beginning in 1979. Since that time, PDC conducted extensive environmental remediation and invested over $20 million in residential development (both ownership and rental), office space, a hotel, retail and restaurant space, esplanade, marina, expansion of public park space, new streets and infrastructure. The district has won numerous awards for both its design and riverfront enhancement and restoration. 

PDC was created by Portland voters in 1958 to serve as the city’s urban renewal agency as laid out in Chapter 15 of the City’s Charter. PDC provides comprehensive housing, development and economic development programs within the Portland region.

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