New Development on Tap for Zidell Land
by Lee Fehrenbacher, HFO-Research Analyst
The PDC is preparing to enter into a development agreement
with ZRZ (Zidell Marine Corporation) to help finance the development of 1.5 million square feet of
mixed-use commercial space on the Zidell’s 30-acre South Waterfront property.
This is the second major phase of development down there since ZRZ completed
the 118-unit The Emery building last year. According to the report, the PDC
would commit $27.4 million in TIF dollars to help jump start the projects.
with ZRZ (Zidell Marine Corporation) to help finance the development of 1.5 million square feet of
mixed-use commercial space on the Zidell’s 30-acre South Waterfront property.
This is the second major phase of development down there since ZRZ completed
the 118-unit The Emery building last year. According to the report, the PDC
would commit $27.4 million in TIF dollars to help jump start the projects.
Private Development includes:
• Phase 1: ZRZ intends to develop at least 440,000 SF of
space anticipated to include mixed-use,
space anticipated to include mixed-use,
employment-oriented projects (OHSU), and build off of their
Emery housing project.
Emery housing project.
• Phase 2: ZRZ intends to develop at least 1,000,000 SF of
space anticipated to include commercial
space anticipated to include commercial
and residential uses that contribute to South Waterfront
employment and housing goals.
employment and housing goals.
• Phase 3: ZRZ has completed a plan for development of
additional SF on properties south of the
additional SF on properties south of the
Ross Island Bridge; this development is anticipated to occur
after the last date to issue debt in the North Macadam URA.
after the last date to issue debt in the North Macadam URA.
HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners throughout Oregon and Washington. Build your legacy at http://www.hfore.com