Portland’s Albina neighborhood, a historic heart of the city’s Black community, is on the brink of a big change. On Thursday (Dec. 11), the 1803 Fund unveiled a $70 million plan as the organization steps up to tackle decades of community disruption, create jobs, and restore opportunity and vibrancy to the area.
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The 1803 Fund — which invests in Portland’s Black community by “advancing generational wealth and well-being” — is spearheading the restoration of the city’s Lower Albina neighborhood, once known as the hub of the city’s commerce. The fund’s real estate investment includes the purchase of the former Louis Dreyfus Co. grain silos terminal, located on the Willamette River north of the Steel Bridge.
Albina: A Neighborhood Displaced
For much of the 20th century, the Albina neighborhood was a staple of Black life, known for its tight-knit community, thriving businesses, and rich cultural energy during World War II and beyond. But beginning in the 1950s and ’60s, a wave of “urban renewal” projects — including the development of Interstate 5 and the Memorial Coliseum — uprooted thousands of residents. Reflecting on that era, Mike Alexander of Albina Vision Trust stated:…