Education URA: Overview
Portland State University (PSU) is Oregon’s most diverse urban research
university, located in the heart of one of America’s most progressive cities. PSU’s
current 50-acre downtown campus places 30,000 students in the city center,
providing close access to the city’s business, technology, and cultural resources.
It is PSU’s job to not only “let knowledge serve the city,” but also to serve
our greater community and region. PSU does this by generating a significant
economic impact, which exceeded $1.4 billion in 2010 and will continue to grow
with PSU’s expanding role as an employer, purchaser, researcher, real estate
developer, and community partner.
Portland State worked closely with the city of Portland to develop the
University District Framework Plan, a blueprint for the physical growth that is
needed to meet the university’s goals and commitments over the next 25 years. As state
and federal funding continue to decrease, PSU will need the help of its partners
to implement this plan.
The Education Urban Renewal Area (URA) is one of many long-term
funding tools that will help PSU continue to accelerate the region’s growth and
excellence, partner with the city and business community, attract investment,
and educate the region’s workforce. It is projected to provide up to $169 million
for investment in educational facilities, affordable housing, and private taxable
development, over a 28-year period.