Port of Astoria expansion stalls

| Print |  Email
Sunday, February 01, 2009
TonguePoint.jpg Tongue Point is three miles east of Astoria on the Columbia River.

PHOTO COURTESY OF GVA KIDDER MATHEWS

ASTORIA It’s an ideal industrial site for a municipal port looking to expand: 30 acres of paved tarmac, five concrete piers, warehouses, hangers, and a deep-water channel that leads straight to the Columbia River. It’s a site that one state official describes as unique on the entire West Coast. Price tag: $7 million.

But for the debt-saddled Port of Astoria, that may be too much. And its inability to come up with the funds threatens what would be the largest expansion by a coastal port in several years.

Tongue Point is a tree-covered elbow of land about three miles east of Astoria on the Columbia River. It was used during World War II as a site for mothballed Navy ships. Since then, individual users have temporally occupied portions of the property.

Scott Fraser, an agent with GVA Kidder Mathews, is selling Tongue Point for its owner, the Montana-based Washington Group. He says the land has been for sale for about seven years. A possible buyer, which Fraser wouldn’t name but is presumably the port, recently signed a non-binding letter of intent to buy.

That’s all the information known about the possible sale. Because of agreements with Washington Group and companies that are potential occupants, the port cannot reveal how much it would earn from leases, what capital improvements must be done, or even the appraised value of the property.

Port executive director Jack Crider maintains an upbeat tone. Right now it’s too early for the port to say where purchasing funds could come from. Crider says he’s confident the site will generate steady revenue since the agency will fill Tongue Point with smaller tenants — he referred to them as “low-hanging fruit” — rather than one very large company.

According to Mike Robison, Clatsop County finance director, the county is considering using video lottery funds in a way it’s never done before: giving the port $200,000 to kick-start the Tongue Point purchase.

ABRAHAM HYATT



Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

Beneath the Surface

May 2015
Thursday, April 23, 2015
0515-goodhacker01 250pxwBY LINDA BAKER

On April 1 I attended a forum at the University of Portland on the sharing economy. The event featured panelists from Lyft and Airbnb, as well as Portland Mayor Charlie Hales. Asked about the impact of tech-driven sharing economy services. Hales said the new business models are reshaping the landscape. “But,” he added, “I don’t pretend to understand how a lot of this [technology] works.” 


Read more...

Credit Unions Perspective

June 2015
Tuesday, May 26, 2015
BY KIM MOORE

A conversation with Gene Pelham, CEO of Rogue Credit Union.


Read more...

5 questions for inDinero CEO Jessica Mah

The Latest
Tuesday, March 31, 2015
jessicathumbBY JACOB PALMER | DIGITAL NEWS EDITOR

inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.


Read more...

Green workplace 2.0

Linda Baker
Thursday, May 28, 2015
IMG 2808BY LINDA BAKER | EDITOR

Reinventing capitalism. Office dumpster divers. Handprints versus carbon footprints. These are some of the ideas panelists and attendees discussed during the second annual Oregon Business “Green Your Workplace” seminar yesterday.


Read more...

6 development projects reshaping Bend

The Latest
Thursday, April 09, 2015
bendthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

Bend has reclaimed its prerecession title as one of the fastest growing cities in the country.


Read more...

An uncertain future

Guest Blog
Thursday, May 21, 2015
norristhumbBY JASON NORRIS | GUEST BLOGGER

Uncertainty is a part of doing business, whether in through the lens of investment opportunities and risks or the business of running an enterprise.


Read more...

Eco Zoned

June 2015
Friday, May 22, 2015
BY HANNAH WALLACE

Travelers have always come to Oregon for its natural beauty. But will the increasing popularity of agritourism, European-style hiking getaways and forest resorts relax Oregon's notoriously strict land-use laws?


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS