The expansion of the contract amount is a result of several "immediate need projects" that arose during the first half of the year that resulted in work order expenditures closely approaching the previous contract amount of $400,000. PDC Project Program Manager Michael McElwee tells GlobeSt.com that the work included the acquisition and shuttering of the Best Western Hotel and the acquisition and management of the 80,000-sf Holman Moving and Storage building, among other things.

In May, the PDC agreed to pay Gene Ferryman $5.2 million for the run-down 97-room Best Western across M.L.K. Blvd. from the Oregon Convention Center, which is now undergoing a $90-million expansion. Rather than continue operating the facility, the PDC had Norris Beggs & Simpson close it down until a third party operator can be found to upgrade and operate the property.

Around the same time, the PDC acquired from the Oregon Department of Transportation several properties on the East bank of the Willamette River, including the 80,000-sf Holman Moving and Storage building. The building's renovation is planned as Phase III of the city's Eastbank Esplanade project, which entails renovating the former warehouse at 49 SE Clay St. and then leasing it out to companies with river-related operations.