Late last year, the Portland Observer ran a story on the Portland Trail Blazers’ plan to turn the Rose Quarter, usually a ghost town during the off season, into a year-round entertainment district.
The Blazers hope to use Cordish, a large real estate development company, to complete their vision. The Observer found that Cordish has left some people in Kansas City, where they developed a similar entertainment district, very upset.
Larry Miller, president of the Blazers, has said not to worry because, “We’re going to be the ones in the driver seat on this.”
However, an article in today’s Oregonian casts doubt on who is going to be on the wheel, quoting a senior official with the Blazers saying that Cordish is prepared to put up its own money for the project and that the owner of the team will defer to them on the project.
The Oregonian article focuses on negotiations between Paul Allen, one of the most wealthy men in the Pacific Northwest and owner of the Trail Blazers, and the city over how much money each side will contribute in the public-private partnership.
The article quotes J.E. Isaac, the Blazers’ senior vice president of business affairs, who told the paper that Cordish is prepared to put up all the private investment for the project. He also said that Allen is deferring to Cordish on the project, citing their expertise in such projects.