Custom Post Type, the single-.php problem

<?php
/**
 * The Template for displaying all Single Project posts.
 *
 * @package WordPress
 * @subpackage Laurel Streng
 * @since Laurel Streng 2.0
 */

get_header(); ?>

<?php $portfolio = new WP_Query(array(
    'post_type' => 'project'
)); ?>
<?php while($portfolio->have_posts()) : $portfolio->the_post(); ?>

<?php if ( is_single() ) : ?>

<div class="row" role="main">
    <article id="post-<?php the_ID(); ?>" <?php post_class(); ?>>
        <header class="project-header large-12 columns">
            <h1 class="entry-title"><?php the_title(); ?></h1>
            <p><?php the_terms($post->ID, 'project_type', '', '  <span class="color">|</span> ', ' ' ); ?></p>
        </header>

        <div class="large-6 columns">
            <?php the_field('project_description'); ?>
            <table>
                <tbody>
                    <tr>
                        <td>Client:</td>
                        <td><?php the_field('project_client'); ?></td>
                    </tr>
                    <tr>
                        <td>Date:</td>
                        <td><?php the_field('project_date'); ?></td>
                    </tr>
                    <tr>
                        <td>Skills:</td>
                        <td>
                            <?php
                            $values = get_field('project_skills');
                            if($values) {
                                foreach($values as $value) {
                                    echo $value . ', ';
                                }
                            } ?>
                        </td>
                    </tr>
                </tbody>
            </table>
            <?php if(get_field('project_url')): ?>
                <a class="button small radius" href="<?php the_field('project_url'); ?>" target="_blank">Launch Project</a>
            <?php endif; ?>
        </div>

        <div class="large-6 columns">
        </div>

        <?php if ( is_search() ) : // Only display Excerpts for Search ?>
        <div class="entry-summary large-12 columns">
            <?php the_excerpt(); ?>
        </div>
        <?php else : ?>
        <?php endif; ?>
    </article>
</div>
<?php endif; // is_single() ?>

<?php endwhile; ?>
<?php wp_reset_postdata(); ?>

<?php get_footer(); ?>