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TCDA board ratifies $12 million purchase of former Tigard Cinema site to create park and Red Rock Creek greenway
Summary
The Tigard Town Center Development Agency board unanimously ratified a purchase and sale agreement to buy roughly 10.39 acres at the former Tigard Cinema site for $12 million, using TIF, budget reallocations and a $5 million loan; staff said the site will be developed with parkland, creek restoration and potential public‑private housing.
The Tigard Town Center Development Agency (TCDA) board voted unanimously to ratify a purchase‑and‑sale agreement to buy about 10.39 acres comprising the former Tigard Cinema parcels at 11620 Southwest Pacific Highway for $12,000,000, contingent on conditions to be cleared by the city attorney and the TCDA executive director.
Redevelopment Manager Sean Fairley told the board the site is largely flat and suitable for parkland and for potential public‑private development that could include housing. Fairley said the adopted Tiger Triangle equitable…
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