Statement from the Portland Diamond Project:
Portland Diamond Project continues to evaluate Terminal 2 as the preferred site for a ballpark and mixed-use development. We have come to an agreement with the Port of Portland for up to six months of extensions to continue the due diligence period.
Port of Portland Statement:
The Portland Diamond Project asked for more time for due diligence at Terminal 2 and we feel comfortable extending the timeline.
Will Portland Diamond Project be paying the Port of Portland for the extensions? Yes. PDP will pay the Port $37,500 for each month of additional due diligence.
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What happens when the six months are up? At that point, we’ll enter next phase of cementing our partnership with the Port to develop this property.
Is PDP considering other sites? We love the opportunity that Terminal 2 presents for a ballpark on the waterfront and a new neighborhood that extends the central city. We have an agreement to continue evaluating Terminal 2 and that’s where our energy is focused.
So, you’re considering other sites? We’re focused on Terminal 2, but we’ll be pursuing all options that make sense until shovels are in the ground.
