Wind: 0 mph
6 Mar 2014
7 Mar 2014
More buyers interested in old Blue Heron site
Now that a Portland property investor will not buy the old Blue Heron paper mill site in Oregon City, other buyers are showing interest.
Langley Investment Properties didn't meet a Jan. 31 deadline to buy the historic 23-acre site on the banks of the Willamette.
But the bankruptcy trustee for Blue Heron, Peter McKittrick, said other potential buyers are showing interest.
He said the site will require a unique buyer because it needs significant investment to prepare it for development, and because a large portion will be public space so people can get to the river. That, he said, will require public investment, which takes time to line up.
McKittrick said the economy isn't great, either.
"I do think things are improving in the development world. But I think people are putting their toes in and not going in with both feet at the same time," he said. "And this is a very large complicated project."
A spokesman from Metro said the loss of Langley doesn't change its efforts to create a master plan for the area.