Portland Spent $12 Million on Centennial Mills as Redevelopment Stalled for Decades
Updated
Updated · KATU · Aug 20
Portland Spent $12 Million on Centennial Mills as Redevelopment Stalled for Decades
3 articles · Updated · KATU · Aug 20
Summary
More than $12 million in public money went into acquiring and improving Centennial Mills over roughly six years, but Portland still failed to deliver a lasting redevelopment project.
A 2006 city report documented the spending, and the city told KATU that challenging site conditions plus federal, state and local development obligations led several proposed projects to collapse.
The recent fire has revived scrutiny of that long-stalled waterfront site, including concerns about asbestos and lead exposure and fresh questions about why the property sat largely unused for decades.
Portland sold Centennial Mills to a private developer in 2024 after more than two decades of public ownership, while advocates say the city also lost taxable value and housing opportunities by leaving the land vacant.