Portland's Lloyd Center Plans Ice Rink Revamp

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  Published in Business and Finance on Friday, February 6th 2026 at 14:55 GMT by OPB
      Locales: Oregon, UNITED STATES

Portland's Lloyd Center Aims for Reinvention with Proposed Ice Rink

Portland, Ore. - The Lloyd Center mall, a once-dominant retail fixture in Northeast Portland, is poised for a potentially transformative change. Developers unveiled plans on Thursday, February 6th, 2026, to construct a state-of-the-art ice rink within the struggling mall, marking a bold attempt to revitalize the space and attract a new wave of visitors. The project, estimated to cost tens of millions of dollars, represents a significant investment in the future of the Lloyd District and signals a shift towards experiential retail and community-focused amenities.

The proposal comes at a critical juncture for the Lloyd Center. Like many traditional brick-and-mortar retail spaces across the nation, the mall has faced considerable headwinds in recent years. The rise of e-commerce, shifting consumer habits, and the recent economic downturn have contributed to a decline in foot traffic and the closure of several anchor stores. While the Lloyd Center remains a significant property - benefitting from its key location and MAX light rail access - its long-term viability has been questioned.

The ice rink isn't simply a cosmetic fix; it's envisioned as an anchor for a broader repositioning of the Lloyd Center. The developers, a consortium led by local firm Cascade Development Group, believe the rink will draw families, tourists, and local residents, creating a dynamic destination beyond traditional shopping. They envision the rink becoming a hub for hockey leagues, figure skating clubs, public skating sessions, and even special events like concerts and performances on the ice. This move aligns with a national trend of malls incorporating entertainment and recreational facilities to combat declining retail sales.

"We see this as more than just an ice rink; it's about creating a community gathering place," explained Sarah Miller, a spokesperson for Cascade Development Group. "We want the Lloyd Center to be a destination where people come to play, connect, and enjoy themselves, not just to buy things. We're aiming to build a year-round attraction that fills a genuine need in the city, providing accessible ice time for skaters of all levels."

Funding for the ambitious project is expected to come from a mix of private investment and public funding. City officials have expressed cautious optimism, acknowledging the potential benefits of the rink for job creation, economic development, and increased recreational opportunities. However, the city is also scrutinizing the financial details and conducting a thorough impact assessment to ensure the project aligns with Portland's long-term goals. The Portland Development Commission is reportedly considering a tax increment financing (TIF) package to help offset construction costs.

Not everyone is thrilled with the proposal. Several existing tenants within the Lloyd Center have voiced concerns about the potential impact on their businesses. Chief among these are worries about reduced parking availability, increased congestion, and the disruption caused by construction. Some fear that the rink will cannibalize foot traffic from their stores, particularly during peak hours.

The developers are actively engaging with these tenants, promising to mitigate any negative effects and explore solutions to address parking concerns, potentially including the construction of a new parking structure or improved shuttle services. They also highlight the potential for increased foot traffic overall, arguing that the rink will attract a new demographic to the mall who might also patronize other businesses.

The Portland City Council is currently reviewing the proposal, with a final decision expected within the next few weeks. Key considerations include the project's financial feasibility, its environmental impact, and its compatibility with the surrounding neighborhood. A public hearing is scheduled for next week to allow residents to voice their opinions. If approved, construction is expected to begin in the fall of 2026, with the rink potentially opening its doors to the public in early 2027. Details regarding the rink's size, design, and operating hours are expected to be released soon, with initial plans indicating a NHL-sized rink capable of accommodating a variety of activities and events.

The success of the Lloyd Center ice rink could serve as a blueprint for other struggling malls across the country, demonstrating that reinvention and a focus on community amenities can offer a viable path to revitalization in the age of e-commerce.