OHSU purchases blocks 23 and 27 in Portland’s South Waterfront district for future development

05/03/12  Portland, Ore.

Oregon Health & Science University is planning to expand its presence in Portland's new South Waterfront District at a future date following the purchase of two parcels of land in the neighborhood.

Today, the purchase of blocks 23 and 27 from North Macadam Investors was finalized. The blocks — which are 4.5 acres combined — are located directly east of the OHSU Center for Health & Healing and south of the Ross Island Bridge. The total purchase price for the two parcels is $13.6 million.

OHSU has no immediate plans for development on the parcels at this time, but it expects to construct new outpatient facilities on the land to both replace aging patient care areas on OHSU's Marquam Hill Campus and in response to expanded need.

"Despite the current slow economy, OHSU is pleased to continue to fuel job growth and economic development in the state," said OHSU President Joe Robertson, M.D., M.B.A. "Since the depth of the recession in May 2009, OHSU has added more than 1,400 employees. This new investment in Portland's South Waterfront District will also create future jobs for Oregonians."

"The Center for Health and Healing, which is connected to the OHSU Marquam Hill Campus via the Portland Aerial Tram, has allowed us to move several outpatient clinics closer to downtown Portland," said Mark Williams, associate vice president for campus development at OHSU. "Doing so has improved access for patients and reduced traffic congestion on Marquam Hill. We look forward to a future with additional OHSU patient facilities in South Waterfront."

About OHSU

Oregon Health & Science University is the state's only academic health and research university. As Portland's largest employer with nearly 14,000 employees, OHSU's size contributes to its ability to provide many services and community support not found anywhere else in the state. OHSU serves patients from every corner of Oregon and is a conduit for learning for more than 4,300 students and trainees. OHSU is the source of more than 200 community outreach programs that bring health and education services to each county in the state.