Opus' Burnside Bridgehead project calls for 500 residential units, 100,000 sf of retail, 125,000 sf of work space and 1,040 structured parking spaces on about 4.5 acres of underdeveloped property immediately north of the bridge. The properties represent is one of the largest redevelopment sites in the Central City.

The MOU calls for Opus to take the lead on: existing and future market studies to determine the mix of uses (residential, retail, office, etc.) to be included in the project; environmental and geotechnical studies of the property and identifying any work that many need to be done; a partnership with Beam Development Co. to develop one or more components of the project; creating a final development program in cooperation with the Citizens Advisory Committee.

The city's Portland Development Commission will be responsible for: purchasing the Convention Plaza Building--which lies in the center of the proposed development and is the only property not yet owned by PDC; obtaining zoning changes for portions of the site necessary to allow the proposed development; a traffic analysis of the proposed development and other transportation issues; analyzing the feasibility and marketability of affordable housing in the project; and then conveying the entire Bridgehead property to Opus as part of the DDA, which will establish the obligations of all parties for the acquisition, financing, development and operation of the project.