What's New
Convention Center Hotel Project
Metro signed a headquarters hotel development agreement with the hotel development group Garfield Traub Ashforth, LLC in December 2007 to begin pre-development work on a 600-room publicly owned, privately operated headquarters hotel across from the Oregon Convention Center.
The agreement calls for several phases of work and a range of project deliverables from the development group. The first phase is a feasibility period that includes creation of conceptual architectural drawings, preliminary budget projections and securing a hotel operating agreement. This feasibility phase work will be completed by June 30, 2008.
Concurrently, Metro’s financial advisors and project underwriters will develop hotel financing options and conduct a rigorous analysis of the hotel budget projections provided by the Garfield Traub Ashforth development group. Metro is also working closely with the city of Portland, Multnomah County and other beneficiaries of the hotel project to secure financial support.
At the conclusion of the feasibility phase of work this summer, Metro will review the project budget, financing options and other project deliverables and then decide whether to authorize further work and payments towards the hotel development.
Want to Know More?
Visit Metro’s Headquarters Hotel Project
Please direct any questions regarding the headquarters hotel to Matt Springer, Project Coordinator, or by phone at 503-797-1556.