News

Working closely with the Portland Development Commission (PDC), Portland State University has entered into an agreement to acquire the downtown Doubletree Hotel site at SW Fourth and Lincoln. Starting fall 2004, the University will use the site as an academic conference center and as overflow for student housing.

Acquiring the Doubletree presents the University with several future growth options, due to the hotel's proximity to PSU's central campus and the South Waterfront district, and the scarcity of available four-acre parcels in Portland's downtown. As PSU's enrollment grows from 24,000 this past fall to 35,000 by 2012, the need for affordable student housing will continue to increase.

The University will purchase the Doubletree using state bonds and will begin minor renovations this summer. Income from housing, food services, conference rentals, and parking fees is expected to cover the property's operating and the bond debt-service costs. Eventually the University will redevelop part or all of the site into as much as 800,000 square feet of student and faculty housing, and academic and commercial space.