Agency releases a request for proposals with the goal of a mixed-use development going on the parcel
A prime piece of property is up for grabs, with the potential to change the look of Oregon City.
The Northeast Gateway Project, also known as the Stimson Property, is currently owned by the Oregon City Urban Renewal Agency. The Commission overseeing the agency released a “request for proposals” (RFP) seeking a private developer who will help the property realize its potential.
“I am thrilled to put forth this important, highly visible property for development” said Oregon City Economic Development Manager James Graham. The Economic Development Department manages Urban Renewal.
“The site deserves a very talented and creative development team that will bring forth a viable project on time and on budget.”
Urban Renewal Commission Chair Mike Mitchell said issuing the RFP is the first step of what should result in some positive changes in the community.
“I’m pleased that the Urban Renewal Commission has approved publishing the Request For Proposals for the Northeast Gateway property,” he said.
“It’s a sizable piece of property in a great location adjacent to I-205 and Hwy 213. Developing that property will get it back on the tax rolls and, more importantly, development on that site will be a catalyst for development in the north end of our city.”
The property used to be home to a rock and landscaping company. The owner opted not to renew their lease in favor of retirement last year.
The RFP states that the Urban Renewal Agency seeks private sector redevelopment through a Disposition and Development Agreement (DDA) that results in economic vitality for the area and contributes to the City’s tax base.
The agency has stated that the preference is a mixed-use development, with the primary use being a hotel. However, any development that includes two or more of the following uses will be considered:
- retail
- restaurant
- conference facility with banquet and meeting space
- studios/galleries
- small-scale grocery (not convenience store)
- indoor entertainment venues
While the purchase price of the property is negotiable, the agency will not consider any responses that include funding assistance to acquire or develop the property.
The Urban Renewal Agency oversees the similarly-named Urban Renewal Area. This district includes Downtown Oregon City, Singer Hill Road and High St. in the McLoughlin neighborhood, includes Clackamette Cove, the Northeast Gateway project and the former landfill site adjacent to Home Depot.
Urban Renewal is a tool for Oregon cities to spur development and redevelopment of underutilized and blighted properties. It uses “tax increment financing” to make these properties within the district more attractive to developers. This in turn raises additional property tax revenues, returning the agency’s investment to the taxing districts.
View the full RFP here.
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