PORTLAND, Ore. — 1803 Fund announced Thursday nearly $70 million in real estate investments in Portland’s Albina neighborhood, targeting two areas for redevelopment.

The investments include the purchase of former grain silos on the Willamette River’s east bank and multiple properties in The Low End, the historic heart of Black Portland, according to the fund.

Rukaiyah Adams, CEO of 1803 Fund, called them “thousand-year investments.”

“We are investing in Albina not as an artifact of the past, but as a promise to the future,” Adams said. “Our goal is to build something enduring, grounded in the people who have always called this neighborhood home.”

In October, the 1803 Fund acquired the former Louis Dreyfus Co. grain silos terminal on the Willamette River north of the Steel Bridge, according to the announcement. Now called Albina Riverside, the waterfront property is envisioned as a civic and cultural space reconnecting the community to the river.

Adams said the site will offer spaces for creative expression and intellectual activity.

“When they stand here, they’ll feel their power and potential, knowing they can build, lead and make remarkable things real,” Adams said. “Our children will grow up seeing something that’s ours: rooted, lasting, not borrowed for a season.”

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The Low End, south of the Fremont Bridge and west of Interstate 5, will be redeveloped into a mixed-use neighborhood centered on culture, creativity and learning, according to 1803 Fund. Additional properties included in the investment will be announced in 2026.

Together, the sites comprise more than 7 acres and are projected to generate hundreds of jobs and nearly $700 million in economic impact to the Portland metro area in initial phases, according to the 1803 Fund.

Portland Mayor Keith Wilson called the investment significant for the neighborhood.

“This momentous investment brings new life and new opportunity to one of Portland’s most important neighborhoods,” Wilson said. “It is a powerful example of what’s possible when vision and investment come together.”

U.S. Sen. Ron Wyden, D-Ore., said the investment represents bold leadership.

“This transformational investment in Albina represents the kind of bold leadership grounded in the sustainable and shared values needed to generate economic growth that honors history and builds a better future for the entire city,” Wyden said.

1803 Fund invests in real assets, financial tools and community initiatives focused on Black Portland, according to the organization.