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ORHF
reached a major milestone in late October when the Portland City
Council approved a loan for us to purchase land in southeast Portland.
This accomplishment followed six months of work on property details by
our Project Management Group (PMG) and Shiels Obletz Johnson (SOJ), our
development consultant. In
collaboration with the City and TriMet (Portland's transit agency),
ORHF has secured a 1.28 acre property (Site 1). ORHF also has an
agreement with TriMet to swap this site for another (Site 2) to support
relocations required by the Portland-Milwaukie light rail project.
The
property we ultimately want to develop is an oddly shaped piece. But
it's at the hub of rail activity, literally surrounded by tracks, and
offers tremendous opportunity for growth and connections with what the
area offers in the future. One of the conditions of the sale agreement
with Union Pacific is that the locomotives must be out of Brooklyn
Roundhouse by January, 2012, a little more than two years from today.
The real work is about to begin!
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