PORTLAND, Ore. — The Portland Diamond Project confirmed Tuesday morning that it has reached an agreement to buy 33 acres of land on Portland's South Waterfront with the intention of developing a Major League Baseball stadium development.
The organization has agreed to purchase Zidell Yards, a former shipyard south of downtown Portland that overlooks the Willamette River. The project enters a 120-day due diligence period with a 42-month period to purchase, Portland Diamond Project reported.
"This really is a dream come true," said Craig Cheek, founder and president of Portland Diamond Project. "We've spent years talking about a future Major League Baseball team calling Portland home. Now we can say Portland will have professional baseball in the heart of the city, along one of Oregon's most iconic rivers."
Portland Mayor Ted Wheeler called the purchase agreement "a big moment for Portland."
"This is a tremendous opportunity to shape our waterfront, create new economic opportunities, and build a vibrant and sustainable neighborhood," Wheeler said. "This builds on our growing sports economy and culture, including the recent announcement of a new WNBA franchise. I'm looking forward to continuing to work with PDP on the next steps."
According to sports columnist John Canzano, the organization has been interested in the site for a long time, citing the location's "multiple access points that would feed into the ballpark from both sides of the river." He also reported that plans for the property, aside from the ballpark, include "15 acres of retail, hotels and residential developments."
Jay Zidell, president of Zidell Companies, said selling the property was the right choice.
"I think the potential for a future professional baseball stadium is an ideal use of the land," he said. "Who wouldn't want to watch baseball with the Willamette River as the backdrop?"
The organization has been trying to secure a site for a Major League Baseball stadium for years, dating all the way back to 2018. They previously looked at the Lloyd Center Mall, the Terminal 2 site in Portland and the RedTail Golf Course property in Beaverton.
In January 2024, Portland Diamond Project confirmed it was in negotiations to purchase the 164-acre RedTail site, which is owned by the city of Portland. Canzano reported Monday night that the group still wants to purchase the RedTail property, but not for its stadium site. Instead it would be for team training facilities and youth baseball fields. Portland Diamond Project would use that as part of its pitch to MLB, Canzano reported.
Six months before that, in June 2023, the organization had reportedly narrowed its focus on two sites for a ballpark: the golf course property and the Lloyd Center, according to Canzano.