Now that a proposed homeless shelter at its 14.5-acre Terminal 1 property is off the table, the Portland Bureau of Environmental Services (BES) is itching—once again—to get the land of its hands.
First, Commissioner Nick Fish has to convince at least three of his council colleagues to pass a resolution [PDF] tomorrow, rescinding a controversial previous resolution that said BES had to lease Terminal 1 to the Portland Housing Bureau. That's probably not the most difficult hurdle, given that the plans around T1 have collapsed.
Should the resolution pass, Fish hopes to have the property back on the market by Thursday, according to his chief of staff, Sonia Schmanski. Interested parties would have until November 18 to submit a proposal.
The possibilities that come through the door could be interesting. Last time BES accepted offers on Terminal 1, it came away with seven possibilities—ranging from $6 million to $10 million. They included a Costco, an affordable housing complex, and a lot of offers that just wanted to grab hold of the land and didn't specify a use. Local developer Tom Cody, who announced on Friday he was donating property for a temporary shelter now that Terminal 1 fell through, had already offered $8.25 million for the land via his company, project^.
But Fish's office says that first round was tainted by uncertainty over whether Terminal 1 would be available for development, or if it was going to be snatched off the market to become a homeless campus. This time, there's hope for a more robust round of offers.
Fish's office is also making clear it's most interested in proposals that keep Terminal 1 an industrial property. The resolution council will vote on tomorrow says it "directs BES to sell Terminal 1 in
accordance with the current zoning and to maximize the value to ratepayers."
Translation: The city's going for the industrial use that offers the most money. Schmanski says BES hopes to accept a proposal and begin finalizing a deal by the end of November.