PORTLAND, Ore. (KPTV) — The 1803 Fund, a nonprofit dedicated to building generation wealth and well-being among Portland’s Black community, announced a $70 million investment plan to revitalize the Albina district on Tuesday.
In it’s prime, the district was known for its vibrant Black community and rich culture. But in the 1960s and 70,s through eminent domain, Black families were displaced from the neighborhood due to urban renewal and construction projects.
“What we’re trying to do is rebuild it as if it were never destroyed,” said Rukaiyah Adams, CEO of 1803 Fund. “What would it look like 60 years later if it hadn’t been taken by eminent domain and essentially flattened?”
1803 Fund purchased over 10 acres of property and is putting its money into two key areas: The Albina Riverside and the Low End.
The Albina Riverside will consist of three acres along the Willamette River, north of the Steel Bridge. The nonprofit also acquired the Dreyfus grain silos site. According to 1803, the Albina Riverside will serve as the “gateway to the neighborhood,” housing spaces focused on creativity, learning and families.
The Low End will consist of over seven acres, south of the Fremont Bridge and west of 1-5. The area will become a hub for artists, entrepreneurs and community programs, according to the nonprofit.
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Business owners in the Albina district told FOX 12 they remember a time when the neighborhood was a thriving, cultural hot spot.
“You look around and you don’t see that here anymore,” said Mathew Hintzen, owner of Wild Roots Salon. “So anything that could restore even half of that I think would be an amazing opportunity.”
Other businesses have taken note of the gentrification in Albina over the years, and are hopeful the project can repair the decades-old damage that’s been left behind.
“I think it’s really important to celebrate that Black history here in the area…” said Kyrsten Bronson, head manager at The White Eagle. “And with all the gentrification that’s been happening, I think it’s really awesome to be able to celebrate that area again and bring back the true meaning of what this area provided to a really rich community.”
According to 1803 Fund, the project also plans to create affordable housing in the Albina district. The nonprofit also said the plan will create hundreds of jobs and generate “nearly $700 million in economic impact.”
Adams said construction is expected to begin in two years.
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