Bridgehead, bridgehead, roly poly bridgehead
Remember the Burnside Bridgehead project? This stinker has now dragged on through two Portland Development Commission CEOs, and is heading for a third. And the PDC just decided to more than double the "predevelopment" loan that it's made to the developer, Beam Development. The taxpayers are now more than $450,000 out of pocket on the latest prowl of this zombie.
If the PDC's recent track record is any indication, it's money the taxpayers won't ever see again. It's going to be an "organic development." Why, sure. Go by couplet!
| Posted at 9:42 AM | Permalink |
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Comments (8)
Yes, more handouts for Malsin. More than any other developer except Gerding Edlen, Malsin has learned to trick the PDC into funding his ambitions on the back of the taxpayer.
Posted by PD | December 10, 2010 11:10 AM
By organic do they mean "BS" ???
Posted by Portland Native...traveling the USA | December 10, 2010 11:32 AM
At the rate local gov't is shoveling money into the bag you'd think they were starting to get nervous about getting caught. Maybe someone's tipped them off that the cops aren't far away...
Posted by jc | December 10, 2010 12:14 PM
You come up with a lot of clever names for people and projects, but "Bridgehead, bridgehead, roly poly bridgehead" may be your best ever.
Epic.
Posted by Miles | December 10, 2010 12:38 PM
But, but, there'll be a Streetcar going right by it - doesn't the Streetcar just scream "development incentive"?!!!
Posted by Erik H. | December 10, 2010 12:41 PM
You begrudge Mr Malsin (BEAM Dev) a Merry Christmas?
He and the Gerding-Edlen employees must be having a helluva XMAS party.
Posted by Steve | December 10, 2010 2:26 PM
Hi All you PDC Followers:
Having been through the last six-seven years of the BBH, from the beginning,(Big Box-Home Depot, then the Opus fiasco included) all I can say is that PDC has finally gotten something right. Hiring Brad at Beam is one of the few things that PDC has gotten right....redundant for sure. but correct.
So quit picking on Brad, he's an upstanding transplanted(N.Y) Portland guy and will figure out how to make this mess work. Go Brad and you're crew over at Beam!VTY,
The Old Curmudgeon-Mike
Posted by Mike | December 11, 2010 12:49 AM
"he's an upstanding transplanted(N.Y) Portland guy and will figure out how to make this mess work."
Any outside developer PDC takes on to solve their messes has an automatic conflict of interest going in...much like any vulture would do...they just circle the carcass and pick the bones clean.
PDC owes it to the public to not make another developer rich by hiring them to "clean up the mess". As has been stated many times, if that's going to be the result time and again, the PDC needs to get out of the development business.
Posted by PD | December 11, 2010 8:25 AM