A decade-old plan to transform the area around the Oregon Museum of Science and Industry (OMSI) into a bustling neighborhood is one step closer to fruition, with more than $15m recently approved for the project by Portland City Council (PCC).
The decades-old plan to bolster the economy of Portland’s Central Eastside southern tip by bringing more activity, housing, and people has come a step closer to becoming a reality. At a recent PCC meeting an agreement was reached to allocate over $15m for the project, which is expecting to cost approximately $90m, with funding coming from a combination of public and private sources.
Printing services pay a critical role in fundraising.
The plan includes public and privately-owned property in the Central Eastside, spanning 24 acres in total surrounding OMSI. Three million square-feet of new mixed-used buildings will be added with 1,200 units of additional housing, of which a minimum of 20% will be designated for low-income families. There will also be a new waterfront park, outdoor plazas, and habitat restoration.
According to OMSI Director Erin Graham, the project should generate over $1bn during the next two decades in private investment. It will also create 11,000 jobs made up of temporary construction positions, as well as long-term positionss at the new businesses the projects attract.
The newly approved funds will go to the first of the project's three phases. Construction is anticipated to begin in early 2026.
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