Portland State University (PSU) will partner with Colas Development Group to build a 150-room hotel and conference center in downtown Portland.
The more than $70 million project is part of a larger mixed-use Performing Arts + Culture Center development that will include a proposed city-owned, 3,000-seat Broadway-capable venue. PSU will serve as the overall developer of the complex. The agreement covers just the hotel and conference center.
The project’s proposed 3,000-seat Broadway-capable venue will be owned by the city of Portland, and additional smaller PSU-owned academic and community-focused theaters will serve as a new cultural anchor for downtown. The on-site hotel and conference center will support housing for visiting artists, performers, conference attendees and audiences.
“Selecting Colas Development Group to enter into an exclusive negotiating agreement for the hotel and conference center is a meaningful step and a signal that the Center is generating the kind of private investment opportunities that can serve as a catalyst, energizing downtown Portland long into the future,” said Dr. Ann Cudd, president of Portland State University.
The post Portland State University, Colas Development Group to Build Hotel, Conference Center appeared first on Connect CRE.
