Jul 18, 2007

Troutdale Urban Renewal Update

Finally, some progress has been made with property negotiations for Troutdale's riverfront renewal district. Last night, the Troutdale urban renewal agency voted to approve an option agreement for purchase and sale of real property of approximately 8.3 acres from Eastwind Development LLC. Click here for a map showing the location of the Eastwind property.

To read the complete agreement, click here to download it from the City of Troutdale website.

Here are some of the key terms:

  • Eastwind must pay for the demolition of structures and environmental remediation on the Eastwind property.
  • The purchase price is $1,611,973.
The Agency is not required to purchase the property unless certain conditions are met.

We're still wrapping up final negotiations for purchase of the "hole" we need to build through the Columbia Gorge Premium outlet mall. But I expect that to be completed within a few weeks.

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