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City Of Portland Could Lose Tens Of Millions On Centennial Mills Project
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Prospective buyers offered the City of Portland as little as $1k for Centennial Mills, a notoriously difficult redevelopment project that’s cost the city around $22M. Other offers came in at $100k and $3.45M, but it seems Portland still has a long way to go to recoup costs, the Oregonian reports.
One possibility is knocking down two more buildings, once a feed and flour mill, to make more room on the five-acre Willamette River property, which could cost another $2.4M. The city wanted to sell Centennial Mills, at 1362 Northwest Naito Pkwy, after backing out of two proposed projects with private developers over the past five years. [Oregonian]
