Airport Way
Urban Renewal Area Fast Facts
| Created: | May 1986 |
| Total Acres: | 1,841 |
| Expires: | May 2011 |
| Boundaries: | View the Airport Way URA boundaries. |
 |
Objective
- To facilitate development in the district that generates significant new employment opportunities for new and existing businesses
- To support development of public infrastructure, transit, and to protect the district’s natural resources
- To encourage employers to provide quality job opportunities to residents of economically disadvantaged communities
- To utilize the land near Portland International Airport for a major mixed-use development, consisting of retail, office and hotels, capitalizing on the Max Light Rail line.
Overview
The Airport Way Urban Renewal Area (URA) was formed in 1986. Unique to Airport Way is its absence of a substantial housing element and its proximity to major transportation infrastructure. As such, the URA’s primary goal has been to facilitate development to create a major eastside employment center. The district’s boundary, spanning from NE 82nd Avenue, adjacent to the Portland International Airport, to the Portland city limits at NE 185th and Marine Drive, remained unchanged from its inception until 2010 when the Portland City Council removed approximately 54 acres from the district in order to free up capacity to expand other districts, or create a new one, in the City. Originally, at 2,780 acres, the Airport Way URA was the City’s second largest urban renewal district. In 2010, however, the Portland City Council passed the Tenth Amendment to the Plan which removed 872 acres, reducing its size to 1,841 acres, so as to create additional capacity to expand an existing or create a new urban renewal area in the City.
Airport Way’s maximum indebtedness of $73 million has been reached and there is no capacity to issue additional debt even though the district does not expire until 2011. Therefore, project activities now must all be funded with “land sale proceeds;” in other words, the money that PDC receives from the sale or lease of property that it had acquired over the years. Currently, PDC still has an estimated $16 million in real estate holdings (vacant land) that it is marketing for new development.
The Urban Renewal Plan and the Development Plan identified several objectives including: planning, developing and improving infrastructure systems; stimulating private investment; and promoting the enhancement of major water features. To accomplish these goals and objectives, PDC has provided financial incentives, direct infrastructure investment, development and economic development assistance.
.
Major Accomplishments
Below are some of the most significant Airport Way projects completed to date:
- Airport Way Widening and Extension
- Max Light Rail Extension to the Airport Terminal
- Secondary Arterial Improvements
- Cascade Station overpass, streets and utilities
- Riverside Parkway Coporate Center (RPCC) streets and utilities
- Columbia Slough Trailhead and Slough Trails
Economic Development Highlights
Business Opportunities
The City of Portland and the Portland Development Commission are committed to providing quality jobs and higher density employment for its residents. As an incentive, the Commission developed financing programs and other assistance to help industrial companies build facilities with job quality and job density in mind.
Development Opportunities
- Cascade Station Development is a 120-acre parcel of property located at the gateway to Portland International Airport, the southwest corner of the intersection of I-205 and Airport Way. Cascade Station is a mixed-use project that features major retailers, office space, hotels and other services. PDC owns development rights to 36 acres at Cascade Station and markets the property through the Grubb and Ellis Company. At full build-out, Cascade Station will generate approximately 7,600 new jobs and over $2.4 million annually in taxes to the City of Portland.
- Riverside Parkway Corporate Center is a 38-acre industrial development project located in the eastern edge of the urban renewal district at NE 185th and Riverside Parkway. PDC has sold 31 of its 38 acres for the development of three (3) significant industrial with numerous quality tenants including the headquarters of three major companies. The balance of land (7 acres) still awaits sale and is also being marketed through Grubb & Ellis.
Publications
- Airport Way Urban Renewal Plan Tenth Amendment
- Map: Airport Way URA - Tenth Amendment
- Original Columbia South Shore Urban Renewal Plan (Apr 1986)
- Cascade Station marketing flyer
- RPCC marketing flyer
- Old Publications
PDC Team Members
- Bruce Allen (Urban Renewal Manager, e-mail 503-823-3357
- Kevin Johnson (Economic Development contact), e-mail 503-823-1176
- Erik Olson (Business Finance contact), e-mail 503-823-3222
Urban Renewal Area Maps
Airport Way URA Development Projects Map
Airport Way Urban Renewal Area (URA) map
Airport Way URA Aerial Map
Cascade Station Aerial Map for PDC's News & Information E-mail Lists |
 |
| View the e-mail archive | Unsubscribe from our e-mail Lists | |
| Find us on: | |
   |
Portland Development Commission | 222 NW Fifth Ave | Portland, OR 97209-3859
Phone: 503-823-3200 | Fax: 503-823-3368
Survey
Page