Portland Group Finds Site, Unveils Plans For MLB Ballpark
The effort to bring an MLB team to Portland "passed an early milestone Thursday when backers said they'd settled on a site for a new ballpark: Terminal 2 , the expansive marine cargo site in an industrial district northwest of the Fremont Bridge," according to Elliot Njus of the Portland OREGONIAN. The group "released sketches that show a ballpark with a retractable roof and a gondola." However, much "remains unknown: the terms of the agreement between the Port of Portland and the Portland Diamond Project for the property," what backers would pay to use Terminal 2 and who has "agreed to foot the multibillion-dollar costs." The transaction for the Terminal 2 property would be "structured as a long-term lease, with the Portland Diamond Project acting as master developer for the site." The announcement came just days ahead of MLB's winter meetings in Las Vegas, which PDP partners "will attend to promote a Portland franchise." The group has named some investors -- including Seahawks QB Russell Wilson -- and would tap up to $150M in "state-issued bonds that would be paid back with income taxes from team salaries." The ballpark would likely "need millions more to compete but group leaders have declined to release further details." Renderings of the proposed ballpark, created by Populous and TVA Architects of Portland, show a venue "with views of Mount Hood, the Willamette River and the Fremont Bridge" (Portland OREGONIAN, 11/30).