The Portland Diamond Project will get up to six more months to study a Northwest Portland marine cargo terminal as a potential baseball stadium site before it has to commit.
The group of investors on Tuesday said it would pay the Port of Portland, which owns the terminal, $37,500 a month for up to six months.
Under its original agreement with the port, the investment group faced a deadline Tuesday to secure exclusive negotiating rights — and pay hundreds of thousands of dollars for those rights. It would also have had to agree to stop looking at other sites.
The Portland Diamond Project has declined to name other potential sites but has said it’s considering options even as it moves toward an agreement with the port.
The port site, which sits northwest of the Fremont Bridge, comes with tricky transportation and zoning problems that the Portland Diamond Project has only just begun to address in conversations with city bureaus.
