Quote:
Originally Posted by maccoinnich
The basic principle of the deal, as I understand it, is that the PDC will pay for the land, design and construction of a new facility for the USPS out by the airport. In return, they get the 14 acre in the Pearl. I have no idea how much a mail sorting facility costs to build, but it's not hard to imagine that it's less than Pearl District land costs. Point of comparison: Security Properties paid $11.75 million for the old PNCA building, which is only a single block.
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you are right and its hard to imagine that the PDC wants to pay or even has the money to pay full price. The Post office maybe holding out for a better price. The PDC has tried to obtain this land for a while now. This site was going to be the home of the future Portland MLB team.
anyways it looks cool on paper but its not going to happen for a long time. probably not in my lifetime