Under the agreement, the Port will sell the City 7.94 acres of unimproved land in Port Center for $2.7 million to build the Swan Island Pump Station, and lease an adjacent 5.5 acres of unimproved land for $15,950 per month to stage materials and equipment. The Port would also lease to the City about 9 acres of paved area and 129,000 square feet of warehouse space in the northern half of T-1, on the west bank of the Willamette River near the Fremont Bridge, for $61,000 a month.
The City's Bureau of Environmental Services will use the T-1 and Swan Island parcels to build a critical section of the City's West Side CSO Project, according to the port. Environmental Services originally planned to build the pump station on a City-owned parcel near the Swan Island lagoon. The Port Center site is closer to the river and will shorten the West Side CSO Tunnel by 4,000 feet, which will save up to $10 million in construction costs.
"This is a tremendous savings for sewer rate payers in Portland," said Portland City Commissioner Dan Saltzman. "Good things happen for our citizens when public agencies work together."
Benson Industries Inc., a manufacturer and distributor of windows, currently leases a portion of T-1 North that would be leased to Environmental Services for the CSO project. Benson Industries is phasing out part of its T-1 operation, although it will continue to lease one T-1 warehouse and some paved storage space. Until completion of a partition of the Port Center property to allow the sale to go through, the City would lease it from the Port. The Portland City Council will consider the overall agreement later this month if it is approved by the Port.
The City's West Side CSO Project is planned to include the installation of a 14-foot diameter pipe, up to 120 feet underground from approximately Nicolai Street at Terminal 1, to a CSO pumping station that will be built in at the Port Center Corporate Park on Swan Island. The facility would pump the combined stormwater and sewage to the Columbia Boulevard Wastewater Treatment Plant in North Portland.
The West Side CSO Tunnel would begin at Southwest Clay Street, run north under Naito Parkway, and then cut east at T-1, beneath the Willamette River, to the new Swan Island Pump Station. Environmental Services hopes to begin construction on the Swan Island Pump Station shaft and the Nicolai shaft this summer. West Side CSO Tunnel excavation is scheduled to begin in summer 2003. The pump station and the West Side Tunnel would be completed in 2006. A similar tunnel on the east side of the Willamette River would be finished in 2011.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
