In an effort to raise money for the Knight Cancer Center, Oregon Health & Science University (OHSU) plans build two new buildings with authority bonds. OHSU President Joe Robertson just recently announced to employees and students the university’s plan to ask lawmakers for $200 million in authority bonds in February. Nike co-founder Phil Knight and his wife Penny have challenged OHSU to raise $500 million for the Knight Cancer Center in the next two year with a promise to match the amount if they raise it.
The authority bonds would also allow the university to purchase some more medicinal real state in South Waterfront. One building would stand next to the Collaborative Life Sciences Building on Southwest Moody Ave., which is set to open in July 2014, and would be dedicated to cancer research. The Collaborative Life Sciences Building will be a 650,000-square-foot campus (including underground parking), and it will be the largest academic and research building in Oregon. It will also have a 12-story and five-story tower over a two-level podium.
The building is actually three in one, owned and used by OHSU, Portland State University, and Oregon State University. It will have classrooms, teaching labs with state-of-the-art equipment, simulation rooms, retail spaces, a satellite library, lecture halls, dental clinics, and an underground, low-vibration microscopy lab with seven electron microscopes. The new facility will house students in their first two years of the School of Medicine, OHSU’s joint program with Oregon State in Pharmacy, the School of Dentistry, and Portland State’s undergraduate classes in chemistry and biology. For more information about the building, check out the slideshow the Portland Business Journal just published.
Another building would stand next to OHSU’s Center for Health & Healing at 3303 Southwest Bond Ave. and would provide room for expanded clinical trials as well as other services such as a short-stay unit and Knight cardiovascular and cancer clinics. These developments for OHSU would only add to the bustling neighborhood South Waterfront is becoming. Many new developments are underway in South Waterfront, including Zidell Yards, a 33-acre mixed-use district that will eventually include a number of buildings and empty space, and The Emery, a 118-unit apartment building with ground-floor retail.
Also, two Puget Sound-area developers submitted plans for apartment projects to the city this summer, which will contribute nearly 500 rental units to the neighborhood. The Portland-to-Milwaukie light rail line will include a new South Waterfront station and is expected to spark even more development once completed in 2015, so make sure to keep your eye on the ever changing and always growing South Waterfront.