A Portland initiative to restore and redevelop historically Black areas in the city is investing $70 million to transform key pieces of riverfront real estate into mixed-use neighborhoods.
The 1803 Fund’s investments in the Albina neighborhood aim to create cultural and economic hubs for Black Portlanders. On Thursday, the Fund’s leaders confirmed it purchased a total of seven acres, including the former grain silos on the east bank of the Willamette River, along with other parcels in North and Northeast Portland.
“We are investing in Albina not as an artifact of the past, but as a promise to the future,” Rukaiyah Adams, CEO of 1803 Fund, said in a statement. Adams is also a member of OPB’s Board of Directors. “Our goal is to build something enduring, grounded in the people who have always called this neighborhood home.”…