Tigard Buys Former Regal Cinema Site for $12M, Plans New Park
Table of Contents
- Tigard Buys Former Regal Cinema Site for $12M, Plans New Park
- revitalizing the Tigard Triangle
- Funding and Development Plans
- Community Impact and Future Vision
- Challenges and Opportunities
- The evolution of Urban Parks
- Frequently Asked Questions about the Tigard triangle Development
- Why is the city investing in the Tigard Triangle?
- What is the Tigard Triangle Tax Increment Financing (TIF) District?
- What are the planned amenities for the new park at the former Regal Cinemas site?
- How will the city ensure the park meets the needs of the community?
- What is a public-private partnership, and how will it benefit the Tigard Triangle project?
- When is the park expected to be completed?
- How will the Red Rock Creek restoration project benefit the Tigard Triangle?
the Tigard Town Center Development Agency (TCDA) has acquired the 10.4-acre property formerly occupied by Regal Cinemas Tigard for $12 million. The move aims to create much-needed open space and spur urban renewal in the Tigard Triangle, an area ripe for redevelopment according to city officials.
revitalizing the Tigard Triangle
The Tigard Triangle, bordered by Interstate 5, Highway 217, and Highway 99W, has long been identified as an area with significant potential but lacking essential infrastructure. The city hopes that the new park will improve the area’s walkability and attract further investment.
Did you Know? The Tigard Triangle spans 500 acres and is targeted for significant urban renewal projects.
Tigard Mayor Heidi Lueb, also a TCDA director, envisions a new park on the site, potentially combined with a public-private partnership to develop housing and a new trail system.The acquisition aligns with the Tigard City Council’s 2025-2026 goal to “Cultivate Tigard as a great place to live, work and play.”
Funding and Development Plans
Funding for the $12 million property acquisition will come, in part, from the Tigard Triangle Tax Increment Financing (TIF) District. this district uses tax revenue generated from new development and increased property values within the Triangle to fund key projects like street improvements, trails, and infrastructure upgrades.
The city has been searching for a suitable property to revitalize the Tigard Triangle for several years. The former Tigard Cinemas site was deemed ideal due to its size and potential for both park development and private-public partnerships.The property also includes land for a stormwater advancement project along Red Rock Creek, scheduled to begin this summer.
Sean Farrelly, redevelopment manager for the city, noted that there are currently no parks in the Tigard Triangle. with approximately 4,500 new residents expected due to ongoing housing developments, the need for recreational amenities is growing. Preliminary design plans for the park include a multipurpose field, play area, sports court, community garden, nature trail, and pedestrian bridge.
Pro Tip: Public-private partnerships can accelerate development and bring diverse expertise to urban renewal projects.
Community Impact and Future Vision
TCDA members unanimously praised the land purchase as a crucial step toward urban renewal in the Tigard Triangle. Council member Jake Schlack called it “one of the biggest decisions” the TCDA board will make, emphasizing its significance as a landmark project and investment.
Jeanette Shaw, another development agency director, highlighted the potential for a public-private development at the site, stating that “Tigard is ahead of its time.”
The redevelopment of the Tigard Cinemas property aims to create a park, greenway for Red Rock Creek, new streets, and street frontage improvements, as well as the Red Rock creek Trail.
| Item | Description |
|---|---|
| Property | Former Regal Cinemas Tigard site |
| Size | 10.4 acres |
| Purchase Price | $12 million |
| Funding Source | Tigard Triangle Tax Increment Financing (TIF) district |
| Planned Amenities | Park, housing, trails, stormwater improvements |
Challenges and Opportunities
While the project holds immense promise, challenges remain. Ensuring the park meets the diverse needs of the growing community and securing a prosperous public-private partnership will be critical. The city must also address existing infrastructure gaps to fully realize the Tigard Triangle’s potential.
The acquisition of the regal Cinemas site represents a significant investment in Tigard’s future. By creating a vibrant public space and fostering strategic partnerships, the city aims to transform the Tigard Triangle into a thriving urban center.
What kind of amenities would you like to see in the new Tigard Triangle park? How can public-private partnerships best serve the community’s needs?
The evolution of Urban Parks
urban parks have long been recognized as vital components of healthy and vibrant cities. from New York’s Central Park to London’s Hyde Park, these green spaces provide residents with opportunities for recreation, relaxation, and social interaction. The development of urban parks often reflects broader trends in urban planning and community development. In recent years, there has been a growing emphasis on creating parks that are not only aesthetically pleasing but also environmentally lasting and socially inclusive according to The Trust for Public Land.
The Tigard Triangle project aligns with this trend, aiming to create a park that serves as a community hub and contributes to the overall revitalization of the area. By incorporating features such as community gardens, nature trails, and sports facilities, the park will cater to a wide range of interests and needs. Moreover, the project’s focus on stormwater management and Red Rock Creek restoration demonstrates a commitment to environmental sustainability.
Frequently Asked Questions about the Tigard triangle Development
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Why is the city investing in the Tigard Triangle?
The Tigard Triangle has been identified as an area with significant potential for growth and development. The city aims to revitalize the area by addressing infrastructure gaps, creating public spaces, and attracting new investment.
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What is the Tigard Triangle Tax Increment Financing (TIF) District?
The TIF district uses tax revenue generated from new development and increased property values within the Tigard Triangle to fund key projects in the area, such as infrastructure improvements and park development.
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What are the planned amenities for the new park at the former Regal Cinemas site?
Preliminary plans include a multipurpose field, play area, sports court, community garden, nature trail, pedestrian bridge, and plaza.
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How will the city ensure the park meets the needs of the community?
The city will engage with residents and stakeholders to gather input and ensure the park caters to a wide range of interests and needs.
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What is a public-private partnership, and how will it benefit the Tigard Triangle project?
A public-private partnership involves collaboration between the city and a private developer to develop the site. this can bring diverse expertise and resources to the project, accelerating development and ensuring its success.
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When is the park expected to be completed?
The timeline for the park’s completion will depend on various factors, including the selection of a development partner and the completion of design and construction phases. The city will provide updates as the project progresses.
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How will the Red Rock Creek restoration project benefit the Tigard Triangle?
The restoration project will improve water quality,enhance the natural environment,and create a greenway that connects the park to other parts of the tigard Triangle.
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