Possible propane depot move a big step for Thompson’s Point
Suburban Propane has filed plans to move from its Thompson’s Point location in Portland to a city-owned parcel on Riverside Street — a move that has been deemed a key goal for developers of the peninsula.
Suburban Propane’s move would ultimately free up a valuable rail-side parcel that developers are hopeful will be redeveloped into a new events center and an expanded transportation center meant to replace the Portland Transportation Center just north of the parcel, according to the Portland Press Herald.
In addition to the transportation center and events center, developers also hope to convert the land into a mixed-use neighborhood with residential housing, a hotel, restaurants and office buildings — a recent price tag for the ambitious project sets it at $100 million.
Suburban Propane’s move, which has been discussed for several years, still must be approved by Portland’s city Planning Board, but developer Chris Thompson told the Press Herald that the potential move could very well kick the development of Thompson’s Point into high gear.
“We’re pretty excited to have arrived at this point in the project overall,” Thompson said. “We’re probably still a few months out before we’re able to see plans go forward for the event and athletic facility, but we’re still planning on moving forward with it.”
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