Home Back Issues February 2009 Port of Astoria expansion stalls

Port of Astoria expansion stalls

| Print |  Email
Archives - February 2009
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

From the Editor: The human factor

March 2014
Tuesday, February 25, 2014

In this issue, we celebrate our 21st annual 100 Best Companies to Work For in Oregon project.


Read more...

Spreading the wealth

March 2014
Tuesday, February 25, 2014
HiResBY PAIGE PARKER

A money management firm broadens its reach. 


Read more...

How to handle the unexpected

Contributed Blogs
Friday, March 28, 2014
03.28.14 thumb disasterBY TOM COX | OB BLOGGER

The next mysterious (or disastrous) event could be one that you or your team might suddenly need to respond to, probably under intense scrutiny.


Read more...

Are millennials reshaping politics in the Pacific Northwest?

News
Wednesday, April 02, 2014

MillennialsThumbA new report explores the impact of millennials on Oregon's business and political climate.


Read more...

Green your workplace

News
Thursday, April 03, 2014
100Green14logo200oxBY OB STAFF

Learn how to green your workplace and lower your environmental footprint at the office. Oregon Business presents a two-hour "Greening Your Workplace" seminar on May 28th, 2014 at the Nines Hotel in Portland.


Read more...

Green eyeshades in the ivory tower

News
Friday, April 04, 2014
EducationCosts BlogBY ERIC FRUITS

The rapidly rising cost of higher education has left even the smartest researchers and the wonkiest of wonks wondering what’s happening and where’s all that money going. More and more, prospective students—and their families—are asking: Is college worth the cost?


Read more...

The solution to youth unemployment

News
Thursday, February 27, 2014
02.27.14 Thumbnail TeenworkBY ERIC FRUITS

Because they have little chance of working for someone else, today’s teens need to be entrepreneurs. But, first, we must teach our teens that entrepreneurship starts small.


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