Quote:
Originally Posted by pdxsg34
Unfortunately, I don't believe that elevator is going away anytime soon. I recall Louis Dreyfus stating that site was one of its busiest terminals in the NW, but Im not able to provide a reference. It really is a shame its there. That waterfront area between the Steel and Broadway bridges is quite complex, given the elevator and railway, but I'll keep my hopes up for development there someday!
Here is an article from 2016, which notes a $12M expansion to the elevator in 2012: https://fadedportland.wordpress.com/...ter-area-1977/ |
I was involved in a project years ago that involved a principal player within the orbit of Louis-Dreyfus (hint... the individual's last name was the same), and they indicated that Paul Allen had approached on more than one occasion to purchase the elevators. He was told - paraphrasing - 'Sure, if you build and deliver us an equivalent grain storage and loading facility elsewhere along the industrial Willamette as an exchange, we'll consider it.'
Your recollection of it's status within the Dreyfus realm, appears accurate. I recall at the time (circa late 90's-2000) being told it was an asset that was free and clear of any debt and was tremendous net revenue source for L-D.
Maybe something will change as the Allen fortune distributes over the next few years and others have different/evolving visions for the area. Still a sizeable financial hump to clear, for a new development. Absorbing the cost of that new facility within the redevelopment budget probably will always be a killer, unless there is a sizable subsidy. Even Paul Allen who was known for pet projects not needed to pencil (EMP for example), didn't bite on this one.