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Convention Center Headquarters Hotel project progress

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Find out about the progress being made during the feasibility phase of the Convention Center Headquarters Hotel Project.

June 30, 2009

The feasibility period has been extended to Sept. 28, 2009, to allow sufficient time for intergovernmental agreements necessary for the project to be reached.

April 15, 2009

A task force appointed by Portland Mayor Sam Adams to advise him on the Headquarters Hotel issued a recommendation to the Mayor that the currently proposed, 600-room Headquarters Hotel project proceed to the next phase as structured. Since the current development agreement’s deadline between Metro and the Garfield Traub/Ashforth Pacific team was April 17, Mayor Adams requested that Metro extend this agreement.
 
As a result, Metro has signed an extension of the agreement until July 1 in order to allow the City of Portland, along with Metro and Multnomah County, to continue to craft a plan of finance and identify sources to fund the next stages of pre-development, which will largely be comprised of architectural fees for detailed project drawings.

Dec. 18, 2008

Metro Chief Operating Officer Michael Jordan has extended the contract of the Convention Center Headquarter Hotel project development team an additional four months. This extension of the existing contract authorizes the Garfield Traub/Ashforth Pacific team to continue working on the project’s development documents and budget. The project design and initial construction budget estimate provided by the project development team has been reduced by an additional $10 million. These numbers reflect the good-faith efforts of both Metro and the project team to lower the costs in order get the most out of every facet of the project budget. This brings the current construction cost estimate – which is not final – to $205 million. The additional time allows Metro, the City of Portland and other partners to determine if there is a feasible way to move forward with the project.

Sept. 22, 2008

Metro announced today that it will extend its review of the proposed 600-room headquarters hotel until Dec. 18 to allow more time for negotiations on project cost reduction and financing for the visitor-funded facility. Since July, Metro's negotiating team has identified $7 million in cost savings. The previous timeline had called for Metro and its partners to make the next set of decisions on the project by Oct. 3. Despite the extension of the timeline, there will not be additional cost increases due to inflation or other factors. View the press release

Aug. 8, 2008

On Aug. 8 Metro received a revised budget from Ashforth/Garfield Traub. For the last several months Metro has also been exchanging draft agreements with the project team. These documents are still being negotiated but illustrate the progress being made toward identifying a financially feasible program. Metro/MERC and Ashforth/Garfield Traub are continuing to work at reducing this figure. The developer's newest cost estimates and construction alternatives are available to download. Go

Executive summary of deliverables

On July 1, 2008 the Metro Council received the first construction cost estimates and designs for a visitor-funded headquarters hotel for the Oregon Convention Center. These costs detail the expenses of developing a 600-room headquarters hotel adjacent to the Oregon Convention Center and reflect the significant inflation in construction costs over the last five years. The estimates are not final figures, but will help inform discussions of the project's feasibility by Metro/MERC and other interested parties over the next 90 days. Metro is committed to a transparent process and will seek public input before the Council determines if it will continue pursuing the headquarters hotel project by Oct. 3, 2008. The executive summary is available to download. Go

Need assistance?

Reed Wagner
503-797-1584
reed.wagner@oregonmetro.gov

Related Links

Documents related to the Convention Center Hotel project

Learn more about the legislation, studies and documents associated with the Convention Center headquarters hotel project.

Convention Center Headquarters Hotel project

Metro and the convention center hotel project development team are engaged in a process of identifying a financially feasible hotel construction package. Find out why Metro is involved in analyzing the construction of a headquarters hotel.