PDC decides to keep headquarters in Old Town, spurning an offer to move to new office tower uptown.
The Portland Development Commission has decided to maintain their headquarters in their 5th Avenue Old Town location instead of relocating to a new office tower on Park Avenue West.
Old Town businesses were concerned that a PDC move could mean trouble for the newly developing area.
The agency passed over a proposal from developer Tom Moyer to locate in his stalled Park Avenue West tower. The tower’s construction site has been a downtown eyesore since Moyer halted work in April 2009, stuck 40 feet below ground and bounded by plywood and chain-link.
Moyer’s company, TMT Development, lobbied hard for the deal as a type of economic stimulus to create work for construction crews and city tax revenues. But the commission’s board members voted to stay put because they said Old Town was cheaper, more certain and a boost for the fragile Old Town economy.
Read the whole story at OregonLive.com.
{biztweet}PDC Old Town{/biztweet}
