The Portland Development Commission (PDC) this week theexecution of a Disposition and Development Agreement with the LentsTown Center Plaza LLC and the Lents 2000 Limited Partnership todevelop a mixed-use project on 2.5 acres at 90th and Foster.
The PDC is selling the property for $746,610, and willprovide financing for the purchase. The property will betransferred to the LLC at close of commercial constructionfinancing, after all the necessary permits are in place.
As currently proposed, the project will be include 23,310 squarefeet of ground floor retail, 8,470 square feet of second storyoffice, 5 townhouses and 25 rental units. The site will alsofeature a 5,000 square foot public plaza as well as parking forboth residential and commercial users. Construction on the sitecould begin as early as January 2001.
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