91Ƶ

Prosper Portland looks for Union Station suitors

By: Chuck Slothower//October 23, 2024//

Prosper Portland looks for Union Station suitors

Chuck Slothower//October 23, 2024//

Listen to this article
Union Station, an unreinforced masonry building that was completed in 1896, needs a seismic retrofit, according to the property owner. (courtesy of Prosper Portland)

ʴǰٱԻ’s Union Station needs more than $250 million in upgrades, complicating Prosper Portland’s push to sell the station to a buyer who would keep it running.

For more than a year, Prosper Portland has been interested in selling the property. But that task is made more difficult by the repair bill and a very short list of potential buyers who would be capable and interested in running a train station.

“We’ve been working with (the Oregon Department of Transportation) and Amtrak on all facets of the facility for years,” Prosper Portland spokesman Shawn Uhlman said.

No sale is imminent, he said.

The station needs significant improvements, including an expensive seismic retrofit and track replacement. The building, which was completed in 1896, was constructed of unreinforced masonry.

Prosper Portland in 2023 halted efforts to renovate the structure and instead began to explore selling it. The agency spends approximately $2 million per year to maintain and operate Union Station.

“Long-term ownership of this facility is something Prosper should clearly not have in its portfolio,” Uhlman said.

The $250 million renovation cost estimate is likely a low figure. It’s based on a 30 percent design stage.

“As we move forward with more complete and updated (documents), those numbers are likely to rise,” Uhlman said.

Prosper ʴǰٱԻ’s discussions have centered on Amtrak, although ODOT and elected officials have also been involved. Amtrak is Prosper’s tenant at Union Station.

The talks appear to be stalled. An Amtrak spokeswoman said the agency “has stepped back from these discussions,” but did not respond to additional questions. The office of Rep. Suzanne Bonamici, D-Portland, who represents the area that includes Union Station, did not comment.

Prosper Portland, then the Portland Development Commission, purchased the property from the Portland Terminal Railroad Co. in 1987. The agency’s attempt to sell the station resurfaced in a February letter from Shelly Haack, a Prosper Portland program manager, to U.S. Department of Transportation and state officials.

Haack wrote that Prosper Portland “concluded that it is in the city of ʴǰٱԻ’s and the station’s best long-term interest to align ownership of this asset with an entity with a transportation mission. As a result, Prosper began to explore the sale of the station and will be evaluating its role in pursuing the renovation plans, in light of any future sales negotiations.”

“Our efforts to sell the asset continue, and I will keep you both informed should those efforts result in a viable option to purchase,” Haack added.

Haack gave a similar message about Prosper ʴǰٱԻ’s efforts to sell the station in a July 2023 letter.

Prosper Portland is committed to selling the station to a suitable party, Uhlman said.

“In order to implement the full revitalization that needs to happen, it’ll need to be a partner that is focused on transportation,” he said.



News

See All News

Commentary

See All Commentary

COMMUNITY CALENDAR