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Moyer makes offer to PDC

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High Five
Tuesday, April 27, 2010

As the Portland Development Commission prepares to make a decision for its new office location, developer Tom Moyer puts his long-stalled, 32-story office tower in downtown Portland on the table.

Moyer's TMT Development Co. is offering to cover all moving costs if the PDC decides to occupy Moyer's tower, in addition to charging rent only slightly higher than what PDC pays in Old Town.

If the commission commits to move in, TMT executives say they will restart construction and remove the eyesore of a construction project at 700 S.W. Ninth Ave. that's been frozen in rebar since April 2009.

The move would increase the PDC's annual rent costs by less than $37,500, on average, over the 10-year term compared to the offer from its current landlord, said Scott Andrews, PDC chairman. He said that's just a few percentage points higher than the best proposal offered by the commission's current landlord, Kalberer Co.

Read the full story at OregonLive.com.

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