The Portland Development Commission (PDC) is entering into a Disposition and Development Agreement with the 1201 Building LLC for development of a 150,000 to 220,000 square foot Class A office building and a 600 to 700-space parking structure near Union Station.
The developer will finance and build the new technologically sophisticated office building and will employ "green building practices" in its construction. The PDC will finance theconstruction of the parking structure.
Groundbreaking for the project is scheduled for late summer 2001. Occupancy is slated for fall 2002.
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