March 11 , 2008

MEDIA RELEASE

CONTACT:

Shawn Uhlman, PDC 503-823-7994

Centennial Mills Committee Forwards Recommendation

Monday, March 10, Portland Development Commission (PDC) Executive Director Bruce Warner accepted the recommendation put forth by the Centennial Mills Evaluation Committee regarding the preferred development team. The consensus recommendation is that LAB Holding, LLC from Costa Mesa, CA, be selected for the redevelopment of the four-acre Centennial Mills site.

The Evaluation Committee’s recommendation is based on the proposal responses provided by LAB Holding, LLC in several key areas including:

• Program and design
  
• Capability
  
• Business deal
  
• Working to meet diversity goals in project design and construction
  
• Collaborative public outreach and participation plan
  

In addition to successfully responding to the categories listed above, input received from the public favored the selection of LAB Holding, LLC as well.

Next Steps
Executive Director Warner will now present the recommendation to the PDC Board of Commissioners at the March 26 Commission Meeting. If the Board approves the recommendation, PDC and LAB Holding, LLC will begin negotiation toward a Disposition and Development Agreement.

“We are really honored to be selected as the development partner for Centennial Mills,” said Shaheen Sadeghi, Principal of LAB Holding, LLC. “The Mills are an amazing opportunity to connect people to the river and revitalize a piece of Portland’s history.”

The Proposals
Proposals for the Centennial Mills redevelopment were received from three nationally known development firms: Lab Holding, LLC; the Cordish Company from Baltimore, MD; and Nitze-Stagen & Company from Seattle, WA.

“All three of the proposals we received were excellent,” said Steven Shain, PDC’s development manager for the Centennial Mills redevelopment. “We really hope there will be opportunities in the future for us to work with The Cordish Company and Nitze-Stagen.”

To review the proposals please visit: http://www.centennialmills.org/opportunity/.

History of Centennial Mills Process
In May 2007 the Portland Development Commission (PDC) issued a nationwide Request for Qualifications (RFQ) to development teams interested in the redevelopment of the Centennial Mills site in northwest Portland. Three teams were selected to move forward to the RFP phase. The RFP was issued in early September 2007 with proposals due back to PDC on Jan. 18, 2008.

###

---

for PDC's News & Information E-Mail Lists
Archive of sent E-Mails
Unsubscribe from our E-Mail Lists