Portland’s Albina neighborhood, a historic heart of the city’s Black community, is on the brink of a big change. On Thursday (Dec. 11), the 1803 Fund unveiled a $70 million plan as the organization steps up to tackle decades of community disruption, create jobs, and restore opportunity and vibrancy to the area.
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The 1803 Fund — which invests in Portland’s Black community by “advancing generational wealth and well-being” — is spearheading the restoration of the city’s Lower Albina neighborhood, once known as the hub of the city’s commerce. The fund’s real estate investment includes the purchase of the former Louis Dreyfus Co. grain silos terminal, located on the Willamette River north of the Steel Bridge.
Albina: A Neighborhood Displaced
For much of the 20th century, the Albina neighborhood was a staple of Black life, known for its tight-knit community, thriving businesses, and rich cultural energy during World War II and beyond. But beginning in the 1950s and ’60s, a wave of “urban renewal” projects — including the development of Interstate 5 and the Memorial Coliseum — uprooted thousands of residents. Reflecting on that era, Mike Alexander of Albina Vision Trust stated:
“It was the area where many African Americans were told they had the only opportunity for home ownership and business development,” he said. “They created a space that was uniquely reflective of their culture, of their dreams, of their joys.”
In 1962, the Oregon State Highway Department pushed Interstate 5 straight through the heart of Albina and North Portland, wiping out more than 300 homes — none of which were ever replaced. Now, after years of systemic destruction, Albina is stepping into a long-overdue chapter of rebuilding and renewal.
Funding for the Albina neighborhood began in 2023, highlighted by a generous $400 million investment from Nike co-founder Phil Knight and his wife, Penny. The plan to reshape the displaced community marks “one of the largest place-based commitments to prosperity and cultural renewal in Oregon’s history,” the Fund stated, per KATU.
Plans for Urban Renewal
“We are investing in Albina not as an artifact of the past, but as a promise to the future,” CEO Rukaiyah Adams of the 1803 Fund stated, highlighting the organization’s commitment to the neighborhood’s next chapter. “Our goal is to build something enduring, grounded in the people who have always called this neighborhood home.”
The organization has reportedly purchased a total of seven acres, land which includes the former grain silos, in addition to locations in North and Northeast Portland. The group plans to develop a multi-functional neighborhood south of the Fremont Bridge, once known as the Low End.
Connections to downtown are also set to be upgraded with a network of educational and economic opportunities for Black folks. According to Axios, early development is set to generate hundreds of jobs and nearly $700 million in economic activity.
“They’ll see their city from the east side of the river and realize they’ve always been, and always will be, part of its story,” Adams added, per the outlet.
Along with 11 additional organizations set to receive support, the 1803 Fund is leading the charge to restore, revitalize, and preserve North Portland’s Black community.
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