The near capacity Port of Longview announced Friday that is has purchased 306 acres of undeveloped waterfront property at Barlow Point.
The $2.45 million foreclosure auction purchase will increase the port's current 437 acres by 70 percent.
Port officials told the Daily News Online that port staff is still evaluating the parcel, which was the previous home to Longview Motocross. Possible port uses for parts of the waterfront property could be the development of marine terminals. Port Director Ken O'Hollaren, who left Monday for a trip to Asia to market the new property, said the property is within the city limits, zoned for manufacturing and could support several tenants.
Located four miles downriver, the parcel was valued by the Cowlitz County Assessor's Office at $6.7 million.
The port, the only bidder in the foreclosure auction for the property, plans to issue a general revenue bond next month to cover the purchase.
Tuesday, October 26, 2010
