Portland officials invest $15.4 million in OMSI District development

PORTLAND, Ore. ( KOIN ) — Portland leaders have unanimously approved a $15.4 million investment in the neighborhood surrounding the Oregon Museum of Science and Industry.

Portland City Council voted in favor of the funding at a meeting on Wednesday afternoon. Their approval allows economic and urban development agency Prosper Portland to work alongside the Portland Bureau of Transportation to upgrade Southeast Water Avenue, thus advancing development of the OMSI District.

According to a release from the museum, the 24-acre district will become a hub for “innovation, culture, arts, and science learning” featuring 1,200 housing units. It also aims to restore the Willamette River’s tribal community with a new Center for Tribal Nations and waterfront education park.

OMSI President and CEO Erin Graham said city leaders’ recent investment is a critical step in moving forward with the project.

“The city’s support, along with our partnerships with Tribal, local, and regional entities, ensures that we are on track to create a hub of innovation and community connection that will benefit all Portlanders,” Graham added in a statement. “We are excited to move forward and begin paving the way for a one-of-a-kind destination for learning, culture, and sustainability.”

The museum reported that it has worked alongside Portland officials for more than a decade to develop the new district. Mayor Ted Wheeler first identified the district as a key priority in 2019, when Prosper Portland was tapped to spearhead the project.

The OMSI District is slated to break ground in 2025. Museum leaders expect the project to garner about $1 billion in economic development.

According to a release, the first phase of construction is about 75% funded. Leaders plan to gather public funds for the remainder.

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