The Multnomah County Board of Commissioners voted unanimously Thursday to authorize exclusive negotiations with the Melvin Mark Development Company toward an agreement to develop the Morrison Bridgehead.
The surplus county property at the west end of the bridge has been identified since the 1970s as both an ideal downtown Portland location for development and a major destination attraction.
And the board's 5-0 approval on May 26 to start negotiations with the Melvin Mark Development Company and the nonprofit James Beard Public Market marks a significant step in a process designed to create new downtown office space and a year-round local food market.
Proceeds from the $10 million purchase price would go toward a capital fund dedicated to fixing or replacing the downtown courthouse.
"This is a big step that begins the negotiations," said county Chair Jeff Cogen. "It's a step that moves us that much closer to an exciting project that will create construction jobs, long-term riverfront office space and a long-sought year-round marketplace."
An ECONorthwest analysis projected a construction impact of more than 1,300 jobs. And the analysis projected 247 jobs in the public market and 1,049 jobs in the new office tower. The county currently has a agreement with City Center Parking to manage the Morrison Bridgehead parcel as surface lots with about 300 parking spaces.