PDC Board Approves Convention Center Land Sale
August 13, 2014
The PDC Board of Commissioners approved (in a 4-0 vote) an agreement for the purchase and sale of a PDC-owned parcel to Mortenson Development Company, which plans to consolidate the land with adjacent properties for the development of a 600-room convention hotel. The agreement between PDC and Mortenson will convey the 13,500 square foot Parcel 47 for $1,300,000. The property is located in the Oregon Convention Center Urban Renewal Area at the northwest corner of Holladay Street and NE Martin Luther King, Jr. Boulevard. PDC purchased the property in 1999 for the express purpose of including it as part of the siting of a potential convention center hotel.
The transaction will advance the long-desired goal of building a quality destination hotel adjacent to OCC. Completing the property assemblage and final construction of the Convention Hotel will enable the City to achieve the central goal of the OCC URA plan: to maximize the convention center’s capacity, increase its vitality, and add significant economic activity to the city and the region. Including the property in the design of the hotel provides the opportunity for enhanced urban design, greater connectivity to the OCC, expansion of the TriMet Station access, and completion of the frontage along NE Holladay Street across from the OCC. Proceeds from the sale will be used to fund other PDC programs in the OCC URA.