Northside Redevelopment Strategy
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1 Northside Redevelopment Strategy April 2, 2014 Isaac Barrow Real Estate Manager 1
2 Presentation Overview Study Overview Review Recommended Development Alternative Current Efforts and anticipated next steps 2
3 Project Drivers Recommended Master Plan follow-on study Increasing importance of close-in facilities Vacant and underutilized facilities Timing of lease expirations Concurrence of projected demands 3
4 Land Uses 4
5 Lease Expirations Buildings List Building No. Name Tenant Building No. Name Tenant Building No. Name Tenant 7505 Hangar A Altantic Aviation 8101, 8111, 8205 North Cargo United Airlines, Port of Portland, SkyWest 9009 Building 9009 Vacant 7527 Business Aviation Terminal (BAT) Altantic Aviation 8119 UAL Paint Shop United Airlines 9105 Dollar Rent A Car Todd Investment Co. dba Dollar Rent A Car 7605 Hangar H Altantic Aviation 8121 UAL GSE Shop United Airlines 9115 National Car Rental (Alamo Rent A Car operations) EAN Holdings, LLC dba National Car Rental 7615 Hangar J Altantic Aviation 8215 Gate Gourmet Gate Gourmet 9125 National Car Rental (Alamo Rent A Car operations) EAN Holdings, LLC dba National Car Rental 7645 Customs Shack CBP Hangar Altantic Aviation 9137 PrimeView GSE Vacant 7705 Hangar K Altantic Aviation 8035 Hangar G Altantic Aviation 9225 Enterprise Rent A Car EAN Holdings, LLC dba National Car Rental 7777 Quad 7 Altantic Aviation 8045 Hangar F Altantic Aviation 9235 Enterprise Rent A Car EAN Holdings, LLC dba National Car Rental Hangar SkyWest 8235 Sheraton Pollin Hotels 9445 Hertz Rent A Car The Hertz Co Hangar 533 MA (Al Angelo Construction) 8633 Hampton Pollin Hotels 9475 Hertz Rent A Car The Hertz Co Hangar JYNAIR 8855 PrimeView Cargo Vacant 9555 Avis Rent A Car Avis Budget Car Rental, LLC 8019 Fred Meyer Hangar Fred Meyer 8975 PrimeView Commissary Vacant 9575 Avis Rent A Car Avis Budget Car Rental, LLC 5
6 Projected Demands Terminal expansion on concourse D&E Rental Car expansion and retention RON parking Business Aviation development 6
7 GUIDING PRINCIPLES Project Goals Goal 1: The long-term preservation of the commercial air carrier aviation facilities and related assets. Goal 2: Provide and maintain high levels of service to PDX s ancillary and supporting services. Goal 3: Through financial principles of cost control, prudent capital investment, and as appropriate alternative development, sustain and grow Airport revenue. Goal 4: Contribute to regional economic development. 7
8 Guiding Principles A total of 19 guiding principles were identified. The following are a few key highlights: Ensure the Airport can meet its aviation obligations. Ensure development is compatible with the Master Plan. Enhance airport revenues and enable a reduction in costs to tenants and users. Ensure land resources are used efficiently and create utilization synergies. Using up-to-date design standards and development guidelines, create an aesthetic appropriate to an airport entranceway. Maintain flexibility in development scenarios, consistent with planning timeframes, lease terms, and obligations. 8
9 Recommended Development Alternative DEVELOPMENT ZONE 1 Air Carrier Reserve DEVELOPMENT ZONE 2 Business Aviation Air Carrier support DEVELOPMENT ZONE 3 Existing Long Term Hotels DEVELOPMENT ZONE 4 Business Aviation Air Carrier support DEVELOPMENT ZONE 5 Rental Cars Parking Expansion 9
10 Next Steps Anticipated development Next 2 5 years Address the immediate need for RON Terminal Improvements Rental Car Improvements Business Aviation development Capital Plan Development Standards 82 nd & Airport Way interchange 10
11 Discussion Question What are your thoughts or recommendations on the proposed redevelopment plan? 11
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