The Rose Garden in Portland, Oregon, is a beloved and iconic venue that has hosted a multitude of events, from sports games to concerts and conventions. Nestled in the heart of the city, it’s a beacon of entertainment and culture. But who actually owns this Portland landmark?
To understand the ownership of The Rose Garden, we need to delve into its history and the various entities that have played significant roles in its existence.
The Portland Trail Blazers and the Moda Center
The Rose Garden, as it was originally known, was built in 1995 as the home arena for the Portland Trail Blazers, the city’s NBA team. The team, owned by Paul Allen at the time, spearheaded the construction of the venue to replace the aging Memorial Coliseum.
In 2013, the Trail Blazers, now owned by Jody Allen (Paul’s sister), renamed the arena to the Moda Center, after a five-year naming rights deal with Moda Health. However, the nickname “The Rose Garden” still persists among Portlanders.
The City of Portland’s Role
The City of Portland played a significant role in the development of the Moda Center. The city contributed $15 million towards the construction costs, with the condition that the arena would be used for public events and not just Trail Blazers games.
This arrangement ensures that the venue remains a community asset, open to various events that cater to Portland’s diverse cultural scene.
Moda Health’s Naming Rights
As mentioned earlier, Moda Health, a local health insurance company, secured the naming rights to the arena in 2013. This deal, worth $41 million over five years, allowed the company to rename the venue to the Moda Center.
While Moda Health holds the naming rights, it’s important to note that they do not own the arena. The ownership remains with the Portland Trail Blazers, who continue to manage and operate the venue.
The Rose Quarter and Its Development
The Moda Center is part of the larger Rose Quarter development, which includes the Rose Garden Arena (now known as the Veterans Memorial Coliseum), the Portland Expo Center, and various retail and dining options. Understanding the Rose Quarter’s development provides further context to the ownership of The Rose Garden.
The Rose Quarter was developed by a private entity, Vulcan Inc., owned by the late Paul Allen. Vulcan Inc. oversaw the development and construction of the Moda Center and other aspects of the Rose Quarter. However, the ownership of the Moda Center itself remains with the Portland Trail Blazers.
The Rose Quarter’s Future Developments
The Rose Quarter is currently undergoing a $1.2 billion redevelopment project, known as the Rose Quarter Revitalization. This project aims to transform the area into a vibrant, mixed-use district, with new housing, retail, and public spaces.
While the Portland Trail Blazers and the City of Portland are involved in this project, the ownership of the Moda Center remains unchanged. The Trail Blazers continue to own and operate the arena, with the City of Portland maintaining its stake through the initial construction contributions and ongoing community access agreements.
The Rose Garden, or rather, the Moda Center, is a complex entity with a rich history and multiple stakeholders. Its ownership, while primarily resting with the Portland Trail Blazers, is intertwined with the City of Portland and the broader Rose Quarter development. As the venue continues to evolve, its role as a cultural and entertainment hub in Portland remains steadfast, reflecting the city’s unique blend of community spirit and private enterprise.
