$70M Investment Announced to Reshape Historic Portland Neighborhood
The 1803 Fund, an investment management organization, has announced nearly $70 million in real estate investments aimed at redeveloping Portland’s historic Albina neighborhood. The investment will focus on two key areas: the former grain silos site along the Willamette River’s east bank and multiple properties in The Low End, the traditional heart of Portland’s Black community.
“We are investing in Albina not as an artifact of the past, but as a promise to the future,” said Rukaiyah Adams, CEO of the 1803 Fund. “Our goal is to build something enduring, grounded in the people who have always called this neighborhood home.”
The real estate acquisitions span more than seven acres and include the former grain silo site near the Moda Center and several blocks within Lower Albina. The 1803 Fund anticipates that the early stages of redevelopment will generate hundreds of jobs and produce nearly $700 million in economic impact.
