OMSI Development

[maccoinnich]

Project team fine-tuning its vision for 34 acres



A master plan for a one-of-a-kind neighborhood around the Oregon Museum of Science and Industry is on the verge of gaining the Portland Design Commission’s approval.

A straw poll taken of commissioners at the end of a land use hearing on Thursday indicated that all would approve the proposed master plan – if the project team were to make some slight tweaks.

At full build-out, as proposed, the 34-acre area of Southeast Portland would hold an approximately 3.4-million-square-foot mix of institutional, commercial, retail, and residential development – including up to 1,200 units of housing. There would also be a third-of-a-mile waterfront park along the Willamette River.

“We want it to truly be a manifestation of the mixed-use district with a lot of different opportunities for people to come here but also to live here and work here,” OMSI CEO Erin Graham said.

...continues at the DJC ($).

[maccoinnich]

Revised Central City Master Plan Staff Report, which now recommends approval: https://www.portlandoregon.gov/bds/article/811671

[maccoinnich]

OMSI mater plan was approved yesterday

[maccoinnich]

Stage now set for unique Portland neighborhood



Oregon Museum of Science and Industry’s vision for a one-of-a-kind neighborhood gained unanimous approval from the Portland Design Commission on Thursday.

The decision comes after roughly 16 years of planning, two design advice meetings and three design review hearings. The site encompasses approximately 10 city blocks in the lower eastside from Clay Street to Caruthers Street, and from the Willamette River to Union Pacific Railroad tracks. Portland Community College’s CLIMB Center and the Hampton Opera Center are also partial owners in development of the master-planned site.

The 34-acre site could potentially hold approximately 3.4 million square feet of development – a mix of institutional, commercial, retail and residential, including up to 1,200 units of housing. A third-of-a-mile waterfront park also is planned.

“I do congratulate the team for taking it out to the finish line,” Commissioner Zari Santner said.

...continues at the DJC ($)

[downtownpdx]

The plan specifies that ground level spaces facing the plaza should be active, rather than utility spaces etc for the apartments/condos above. Well that seems like a no-brainer. I don't see why they don't push for some more waterside restarants/cafes. Push one of those buildings facing the plaza out towards the path, or build a stand-alone restaurant space in the plaza and take advantage of those views of the downtown skyline/ Marquam Bridge.

[PhillyPDX]

What is the financing like behind this plan? Like, is it definitely a go, or just an approved plan that still has that most important of hurdles: significant hundreds of millions of $$ in a high interest rate environment?

Surely OMSI itself doesn't have the funds on hand.

[PhillyPDX]

Just answered my own question, kind of:

https://www.kgw.com/article/money/omsi-n...283-d5bbe8c2-f869-46a7-9262-8aee992bc53d

So IS there a private developer with loans ready? Has public financing even been discussed?

$120M seems quite cheap for this large of a project....unless my perception on the scope is off base.

[pdxsg34]

This might be a non-issue, but I'm curious how the flood-plain factors into the development of the blocks nearest to the river. The 500-year flood zone includes (Block A, B, and Opera 1), and the 1996/100-year zone edges over what would be the riverfront in that area (Block A, B, and Opera 1).

Glad to see the Opera has skin in this game, as well as PCC. It's a good move (IMO) there considering setbacks, to avoid an "eastside wall". I laugh inside at the "benefits" of the view of the Marquam bridge, as that thing should be buried so the public has river access on both sides, rather than basking in a concrete monument to cars. Regardless, excited to see movement on this master plan. More housing and innovation? Sign me up.

[maccoinnich]

I'm not exactly sure what the $120 million in the article is referring to, but there's no way that's all the total build out of the district would cost. But in any case, you would not expect developers to have financing in hand at this point. Usually those loans don't close until right before construction. (They may, however, take out higher interest loans to finance preconstruction work including design.)

[DMH]

Originally Posted by PhillyPDX

What is the financing like behind this plan? Like, is it definitely a go, or just an approved plan that still has that most important of hurdles: significant hundreds of millions of $$ in a high interest rate environment?

Surely OMSI itself doesn't have the funds on hand.

This article from The Oregonian explains a lot about the initial financing and how much each party may contribute:

OMSI district plan wins approval from Portland Design Commission

https://www.oregonlive.com/business/2023...val-from-portland-design-commission.html

[PhillyPDX]

Paywall for that Oregonian article. What does it say about public assistance?

I really wish OMSI would spend money on making it a better legit science museum instead of this unrelated development. Was just at Cal Science Center this weekend, wow. Orders of magnitude better and bigger than OMSI (and Cal Science is significantly expanding currently). My kids like Turbine hall, to be fair, but that's really all OMSI is. We go back and forth every year on membership because the kids get bored so easily after a couple of visits. Why not use one of the parking lots for actual science related expansion?

[uncommon.name]

Originally Posted by PhillyPDX

Paywall for that Oregonian article. What does it say about public assistance?

I really wish OMSI would spend money on making it a better legit science museum instead of this unrelated development. Was just at Cal Science Center this weekend, wow. Orders of magnitude better and bigger than OMSI (and Cal Science is significantly expanding currently). My kids like Turbine hall, to be fair, but that's really all OMSI is. We go back and forth every year on membership because the kids get bored so easily after a couple of visits. Why not use one of the parking lots for actual science related expansion?

I've been saying this for years. San Francisco and Seattle's science museums are leaps-and-bounds better than OMSI. I'm the same way with membership and typically do it every other year so that when my kids get bored with it, they get a year off and then a year later it's like a new museum to them again.

[maccoinnich]

OMSI has a lot of land. The California Academy of Sciences is incredible and I wish we had something like that here - but even in the most ambitious expansion scenarios OMSI wouldn't need all their land. What I've heard is that their hope is to do ground leases on the land that's developed as part of the expansion, which would then provide ongoing revenue for the museum. And while this is total speculation on my part, maybe having that extra ongoing revenue might make some kind of expansion more viable - either has a part of one of the larger buildings shown in the master plan, or the whole of one of the smaller buildings.

[PhillyPDX]

Yeah and I’m not trying to say OMSI needs to be CSC or at that level, the market simply doesn't support it (absent a major benefactor like Carnegie in Pitts for all those world class museums in a comparable Portland sized city). But OMSI has so much land, surely expansion could be possible immediately adjacent to the current building. Cal science was free too (donation recommended). What’s more equitable than that?

Expand on the east parking lot and join forces with the Rail Heritage Center to allow people to go there too.

[maccoinnich]

I attended an event at OMSI this morning, about large developments in the Portland metro area (including the OMSI master plan). What was news to me is that a proposed Center for Tribal Nations is in the process of fundraising for a feasibility study. Construction would be a long way out, but it sounds like it's something OMSI really wants to happen. There are some concept level renderings at the link.

[uncommon.name]

Originally Posted by maccoinnich

I attended an event at OMSI this morning, about large developments in the Portland metro area (including the OMSI master plan). What was news to me is that a proposed Center for Tribal Nations is in the process of fundraising for a feasibility study. Construction would be a long way out, but it sounds like it's something OMSI really wants to happen. There are some concept level renderings at the link.

Stunning!!! I hope that project happens and the finished project is much like those renderings. WOW!

[maccoinnich]

SB1530 passed out of committee today, with $6 million allocated for the relocation of SE Water Ave.

[downtownpdx]

OMSI ranked top science museum in the US by Newsweek


https://www.kgw.com/article/news/communi...283-2ce2c7d1-2f92-4cbe-b649-2b184d9c1e8f

PORTLAND, Oregon — Want to visit the best science museum in the country? It's right here in Portland, according to Newsweek.

The 2024 Newsweek Readers' Choice Awards named the Oregon Museum of Science and Industry (OMSI) as the top science museum in the U.S. Newsweek contributors and readers voted on science museums from across the country that were selected by a panel of experts.


OMSI took the top spot, followed by the Explora Science Center and Children's Museum of Albuquerque in New Mexico, and the Science Museum of Oklahoma in Oklahoma City, Oklahoma.

"Guests of all ages can engage in a full range of STEM exhibits at OMSI, and bonus features include the Kendall Planetarium and the Empire Theater, which shows both documentaries and Hollywood favorites," Newsweek said.

Newsweek also highlighted OMSI's public tour of the USS Blueback submarine, plus their wide range of festivals, Science Pubs and other organized events.

"Part of what makes the OMSI experience so special is that we help create lasting memories for people of all ages over multiple generations," OMSI said on Instagram. "This award, won by public vote, speaks volumes about the support for OMSI and our mission."

[PhillyPDX]

Originally Posted by downtownpdx

OMSI ranked top science museum in the US by Newsweek


https://www.kgw.com/article/news/communi...283-2ce2c7d1-2f92-4cbe-b649-2b184d9c1e8f

Nothing like a ranking where in the top 3 are museums in Albuquerque and OKC. I'd love to see the data on that poll. Smithsonian ain't got nothing on them.

[downtownpdx]

Originally Posted by PhillyPDX

Nothing like a ranking where in the top 3 are museums in Albuquerque and OKC. I'd love to see the data on that poll. Smithsonian ain't got nothing on them.

Ha! Yeah my excitement in seeing this diminished when I saw the competition.. although who am I to say since I've never visited these museums.