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The redevelopment plan for Centennial Mills, in Northwest Portland, calls for creating open space, capturing history and establishing a focal point for the waterfront.

Jordan Schnitzer, president of Harsch Properties, on Wednesday introduced the Portland Development Commission to his team’s preferred plan for redevelopment of the 4.75-acre site into 120,000 square feet of multifamily units, 80,000 square feet of office space and 24,000 square feet of retail space. Of that total, 50,000 square feet would be rehabilitated space in the only two salvageable buildings.

鈥淭he good thing about this is no one has a monopoly on what happens,鈥� Schnitzer said. 鈥淲e want input from everybody.鈥�

The development team considered several options 鈥� ranging from clearing the whole site and leaving it open space ($18 million) to restoring additional structures, and building an arena and other amenities ($207 million). Schnitzer’s team said its $115.8 million 鈥減referred plan鈥� includes the best of all ideas.

Harsch Properties is proposing to cover $77 million, and rely on public subsidies totaling $38.8 million.

Schnitzer’s team envisions a common area and a covered events center similar to downtown’s Director Park, a pedestrian greenway along the water, a pedestrian bridge over Naito Parkway and a dock that allows access to the river and moorage for boats. The result would be a 鈥渓yrical, fluid鈥� waterfront, Schnitzer said.

鈥淗ow we came up with the events center is we were thinking: Why are people going to be coming down here?鈥� he said. 鈥淲ith the success (Portland Parks & Recreation) has had with Director Park 鈥� it shows that there’s a thirst from people who want to come to events that are covered.鈥�

Schnitzer described a glass-covered area where people could attend summer evening movies, car shows or other events.

鈥淲e wanted to evoke the design of the wharf buildings that are no longer going to be able to be preserved in the line of the events center,鈥� he said.

Just two of the existing 12 buildings are in a condition that allows for preservation, Schnitzer said. The Flour Mill Building would be incorporated into a new office and retail space. The Feed Mill Building would be converted into a restaurant with a 鈥渇amily price point.鈥�

鈥淎 restaurant where people could drive up in their boats to come,鈥� he said. 鈥淚t would get that area activated.鈥�

Schnitzer outlined a building schedule that calls for the design and permitting process to continue into early 2016, with construction beginning in the second quarter of 2016 and finishing in the third quarter of 2018.

But Schnitzer and the PDC seemed to agree that reactivating a 100-plus-year-old former mill site that has sat vacant for more than a decade will require some immediate repairs.

鈥淗aving walked through it today and having walked through (it) two and three years ago, I was really struck by the deterioration,鈥� Commissioner John Mohlis said. 鈥淚 have some concern about waiting until 2016, just from a public safety perspective, because it’s pretty shocking what’s happened over the last few years.鈥�

The roof of the Flour Mill has partially collapsed, the roof of the Feed Mill has localized areas of damage, and many wharf pilings are completely rotten.

鈥淭here’s got to be some way we could go to the City Council and get a declaration of emergency,鈥� Schnitzer said. 鈥淏ecause if half that building falls into the water it’s not going to be good for any of us.鈥�

On a site tour 鈥� hard hats and flashlights required 鈥� on Friday, the deterioration was evident: visibly listing support beams, gaping holes in the ceiling and standing water pooled on the concrete first floor of the six-story Flour Mill.

鈥淚 was just here (three days ago) and already I can see changes since then,鈥� said Susanne Orton, vice president of marketing and communications for Harsch Properties.

The PDC didn’t make any decisions at Wednesday’s work session, but agreed that something needs to be done to stop deterioration, salvage what can be saved and keep the project from becoming more complicated by starting demolition as soon as possible.

The next step, Orton said, will be to hold public meetings to get feedback on what people want to see on the site and how much they want to spent on development. No meetings have been scheduled yet.

(Click here to view photos from a recent hardhat tour of Centennial Mills)