| Name |
Portland Airport MAX Extension
Project |
| Location |
Portland, Oregon |
| Mode |
Light rail transit |
| Description |
5.5 mile light rail extension
of existing 33-mile MAX
light rail system
Will link CBD to Portland
International Airport of
the MAX light rail system
4 stations (two stations
on parcel leased to Bechtel
joint venture next to airport
|
| Sponsor |
Port of Portland
Tri-County Metropolitan Transportation
District (Tri-Met)
City of Portland Development
Commission |
| Cost |
$125 million |
| Type
of Finance |
100% local project
funding:
$28.3 million Port
of Portland (passenger
facility charges)
$45.5
million Tri-Met
(General Fund)
$23.0
million City
of Portland (Urban
Renewal/Tax Increment)
$28.2 million Cascade
Station Dev. Co.
|
| Revenue
Sources |
see above |
| Project
Delivery / Contract Method |
Design-build:
Bechtel Infrastructure
Joint development agreement |
| Private
Investor Partner |
Cascade Station Development Company, LLC.
(Bechtel Enterprises) Trammel Crow has left the partnership |
| Project
Advisors |
Neil Goldschmidt
Morgan Guaranty Trust |
| Lenders |
|
| Physical
Status |
Opened September 2001
|
| Financial
Status |
Closed |
| Innovations |
Exchange of land development
rights -- Cascade Station
Development Co., LLC providing
20% of total project cost
in return for a long-term
lease hold for 120 acres
at Cascade Station.
|
| Related
Links / Articles |
Moody's
Credit Rating*
Airport
MAX Homepage
Cascade
Station Development Company,
LLC.-- 120-acre mixed use
commercial development
planned adjacent to LRT.
|
| Contacts |
Tri-Met
Airport MAX Extension Project
Tel: (503) 962-2266
WALSHJ@tri-met.org
Port of Portland
Jim Laubenthal
Tel:(503) 944-7526
|
| Last Review/Update |
Airport MAX, March 2004 |
|
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|
