The expansion of the contract amount is a result of several"immediate need projects" that arose during the first half of theyear that resulted in work order expenditures closely approachingthe previous contract amount of $400,000. PDC Project ProgramManager Michael McElwee tells that the work includedthe acquisition and shuttering of the Best Western Hotel and theacquisition and management of the 80,000-sf Holman Moving andStorage building, among other things.

In May, the PDC agreed to pay Gene Ferryman $5.2 million for therun-down 97-room Best Western across M.L.K. Blvd. from the OregonConvention Center, which is now undergoing a $90-million expansion.Rather than continue operating the facility, the PDC had NorrisBeggs & Simpson close it down until a third party operator canbe found to upgrade and operate the property.

Around the same time, the PDC acquired from the OregonDepartment of Transportation several properties on the East bank ofthe Willamette River, including the 80,000-sf Holman Moving andStorage building. The building's renovation is planned as Phase IIIof the city's Eastbank Esplanade project, which entails renovatingthe former warehouse at 49 SE Clay St. and then leasing it out tocompanies with river-related operations.

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