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Monday, March 12, 2012

So, who's buying the Custom House?

We were supposed to find out by now who agreed to pay $4.74 million for the old U.S. Custom House on the North Park Blocks in Northwest Portland -- nearly twice the amount bid on it in a deal that cratered last year. According to this story, the deadline for plunking down a deposit was last Thursday. We were thinking some local government entity or another, but a reader suggested that it was a wealthy philanthropist who's going to fix it up as an art museum.

Comments (9)

Can we assume that would be a Tax Deductible donation/gift with naming rights retained?

The PDC is buying it for $4.74 million, then it will spend $15 million to renovate it to LEED Platinum standards as a jobs creation project, and then will flip it for $1.00 to a "green energy" company.

This is, of course, completely separate and in addition to the Sustainability Center.

Pete Mark

Maybe Chris Dudley is planning to let Randy Leonard set it on fire.

A wonderful courtyard.
A wealthy philanthropist would be preferable than PDC buying it.

The only connection I would like to see about PDC (if a museum)
would be a room dedicated to the history of PDC, the beginning and then its end.
In that room, along with photographs of projects, most importantly would be tables with documents under glass that for many years the public was not privy to...
all a part of our city history in a museum.

Gasp!!!! That last comment sounds plausible...WAY too plausible.

Will there be a room dedicated to the history of Sam and Vera?

Art museum would really be ideal. Apparently there's a grand staircase that makes redeveloping the thing into condos unprofitable. Said staircase would make a killer entrance to an art museum, though. Here's hoping some rich person in PDX cares enough about art to make this happen.

"Will there be a room dedicated to the history of Sam and Vera?"

A rogues gallery, perhaps?

The Buyer is Eastern Real Estate LLC a Massachuseutts based over of 10 million square feet of office and retail projects.

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