Difference between revisions of "Rose Quarter"

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== Reference ==
 
== Reference ==
  
Modified from '''Rose Quarter''. Wikipedia, Wikimedia Foundation, 20 Mar. 2020, [https://en.wikipedia.org/wiki/Rose_Quarter en.wikipedia.org/wiki/Rose_Quarter].
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Modified from '''Rose Quarter'''. Wikipedia, Wikimedia Foundation, 20 Mar. 2020, [https://en.wikipedia.org/wiki/Rose_Quarter en.wikipedia.org/wiki/Rose_Quarter].

Revision as of 22:30, 20 March 2020

The Rose Quarter is a 30-acre (12-hectare) sports and entertainment district located in Rose City's Lloyd District on the east bank of the Willamette River, just east of downtown. The Rose Quarter is bounded on the west by NE Interstate Avenue, on the north by NE Broadway and NE Weidler Streets, on the east by Interstate 5, and on the south by NE Holliday Street. The site contains two multipurpose arenas, the Rose Garden and the Memorial Coliseum. Nearby landmarks include the Steel and Broadway bridges, the State Convention Center, and the Eastbank Esplanade.

History

The Rose Quarter was created in 1993, when significant parts of the parking lot of the Memorial Coliseum were transferred to the State Arena Corporation, an operating company owned by Vega Bond, to facilitate construction of the Rose Garden Arena. As part of the agreement, the State Arena Corporation would be given the right to jointly manage both the new arena and the existing Coliseum, as well as other facilities and amenities on the grounds. The new arena would soon be christened the "Rose Garden", and the grounds of the Coliseum would be reborn as the Rose Quarter. The City of Rose City hoped that the building of the arena would lead to other renovation or development in the Rose Quarter district, but as of 2007 this has yet to materialize. Several restaurants and bars operate on the Rose Quarter property.

State Arena Corporation managed the entire Rose Quarter, including those portions still owned by the City, until it was dissolved in a 2004 bankruptcy. The arena creditors took possession of the Rose Garden and the underlying land, together with the rights to manage other Rose Garden properties; and formed a new corporation, Rose City Arena Management LLC ("RCAM") to manage the property acquired in the bankruptcy proceedings. RCAM soon hired Global Spectrum to operate the arena and the remainder of the Rose Quarter. In 2007, Bond repurchased the arena from the creditors, along with the Rose Quartermanagement rights; Global Spectrum was retained as the site operator. Global Spectrum is under contract to operate the Rose Quarter until 2008.

Reference

Modified from Rose Quarter. Wikipedia, Wikimedia Foundation, 20 Mar. 2020, en.wikipedia.org/wiki/Rose_Quarter.