OMSI reveals plans for Portlands Central Eastside development
The Oregon Museum of Science & Industry (OMSI) has created a plan to develop two million square feet in the city’s Central Eastside that will include up to 500 apartments, office space, a hotel, and retail storefronts.
The OMSI’s empty Central Eastside property’s zoning limits new development to a maximum of 1.6 million square feet. However, by providing open space and additional amenities an accumulation of density bonuses could boost that amount up to two million square feet, which would be the equivalent of two U.S. Bancorp Towers.
Historically the Central Eastside has been an industrial district; however it has evolved into one of Portland’s trendiest areas and has seen the recent construction of thousands of apartments. Some of the apartments in the OMSI development will be rent restricted in compliance with Portland’s inclusionary zoning mandate that large residential developments include affordable units.
Brochure printing assists in filling units long before they are ready for occupancy.
The Museum, a nonprofit attracting more than a million visitors annually, is located on land donated by Portland General Electric. Overruns in the museum’s construction costs, followed by flooding in 1996, put the museum in a difficult financial position, abated somewhat by the state of Oregon and a private donor each providing OMSI with $4.6m.
OMSI is hoping that decades of proceeds derived from the lease of the land to developer Gerding Edlen will provide enough funds to keep the museums’ finances on an even keel.
The OMSI’s empty Central Eastside property’s zoning limits new development to a maximum of 1.6 million square feet. However, by providing open space and additional amenities an accumulation of density bonuses could boost that amount up to two million square feet, which would be the equivalent of two U.S. Bancorp Towers.
Historically the Central Eastside has been an industrial district; however it has evolved into one of Portland’s trendiest areas and has seen the recent construction of thousands of apartments. Some of the apartments in the OMSI development will be rent restricted in compliance with Portland’s inclusionary zoning mandate that large residential developments include affordable units.
Brochure printing assists in filling units long before they are ready for occupancy.
The Museum, a nonprofit attracting more than a million visitors annually, is located on land donated by Portland General Electric. Overruns in the museum’s construction costs, followed by flooding in 1996, put the museum in a difficult financial position, abated somewhat by the state of Oregon and a private donor each providing OMSI with $4.6m.
OMSI is hoping that decades of proceeds derived from the lease of the land to developer Gerding Edlen will provide enough funds to keep the museums’ finances on an even keel.