The Portland Diamond Project Will Extend Due Diligence on Port Property For Six Months

PDP will conduct a formal traffic study to see whether transportation is feasible for riverfront site in Northwest Portland.

Portland baseball stadium rendering. (Portland Diamond Project)
By Nigel Jaquiss

The Portland Diamond Project announced today that it will extend its due diligence period at the Port of Portland's Terminal 2 for another six months.

The group hopes to bring Major League Baseball to Portland and, although MLB has not yet signaled that a team is available, PDP is continuing to try to build support and establish that it has a viable site should either of the two most unsettled franchises, the Tampa Bay Rays or the Oakland Athletics, shift their focus to the Northwest.

"As far as we know, to date, no public or private entities have conducted a formal study regarding traffic and transportation options to and from the Terminal 2 area for the purposes of a development this large," PDP said in a statement. "As we evaluate the overall feasibility of Terminal 2 as a ballpark site, this is critical information to have."

The group is paying the Port $37,500 a month to tie up the mothballed dock at 3556 Northwest Front Ave. in the Northwest Industrial District.

Today's announcement marks PDP's second extension of its original due diligence period. In May, PDP extended for six months rather than making the first of its scheduled $375,000 quarterly payments toward a 55-year ground lease on the property.

The Port of Portland, which had not been using the 45.5-acre parcel, and had no rent coming in on it, was happy to extend the due diligence period, PDP said.

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