Taking the Development out of the Portland Development Commission

Now we know why PDC became Prosper Portland. The Portland Business Journal reports:

In a surprise turn of events on one of the city’s most prominent development opportunities, ZRZ Realty — the real estate arm of the Zidell family business — and the city of Portland have terminated a development agreement that would have paved the way for a massive amount of development in the South Waterfront.

There’s more:

ZRZ and Prosper Portland, the city’s economic development arm, had entered into a development agreement in 2015 which called for Prosper Portland — then known as the Portland Development Commission — to invest an estimated $23.7 million for infrastructure, transportation, economic development, greenway and open space improvements at the site.

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