Following a Request for Proposals, the City of Portland, Oregon, and the Portland Development Commission are partnering with LAB Holding, LCC for redevelopment of Centennial Mills. Acquired by the City and PDC in 2000, Centennial Mills is a 4.75-acre site prominently situated on the Willamette River and adjacent to the Pearl District, one of the city’s most dynamic neighborhoods. The site offers an exciting and singular opportunity to create a riverfront landmark in Portland, while preserving a unique piece of the city’s history. PDC and LAB Holding have negotiated a Memorandum of Understanding reflecting the developer’s proposal to preserve the site's historic fabric with a focus on Portland's culinary eateries and entrepreneurs and as part of celebrating the local environment and the site's agricultural heritage. The team has completed due diligence and is undertaking schematic design. A refined design and program are anticipated to be completed by spring 2010, with a Disposition and Development Agreement following soon thereafter.
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