EARLY WIN FOR PORTLAND RAIL LAND DEAL

The land development deal put together in June 1999 to support the tax-increment financing leg of a $125-million light-rail line to the airport in Portland, Oregon, has produced an agreement with a major retail developer to lease about one-third of the 120-acre (48.6-ha) site. Plans for the site include an 18-screen cinema and 380,000 sq ft (35,302 sq m) of retail and restaurant space with a total value of $80 million. Access to the fully assembled commercial site next to Portland's airport and nearby Vancouver, Washington, will be provided by two new highway interchanges and two light-rail stations. Talks are also underway with hotel and office developers. Portland's Airport MAX line is one of only a few transit projects in the United States to include construction funding from future real estate development.

  • Availability:
  • Corporate Authors:

    Public Works Financing

    147 Elmer Street
    Westfield, NJ  United States  07090-2433
  • Publication Date: 2000-4

Language

  • English

Media Info

  • Pagination: p. 3-4
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00792340
  • Record Type: Publication
  • Files: TRIS
  • Created Date: May 15 2000 12:00AM