SPI Insights

Oregon – The Oregon Legislature approved SB 5505 on June 26 that will provide $2.25 billion in general obligation bonds for capital project funding, including $446 million for several construction and renovation projects at the state’s seven public universities.

Oregon State University (OSU) will receive $86 million in bonding for the second and third phases of renovating Cordley Hall at its Corvallis campus. It houses the departments of integrative biology and botany and plant pathology. Renovating the 235,000-square-foot Cordley Hall in phases is the university’s largest construction project and will cost $159 million – of which $104 million will be funded by the state and $55 million by OSU.

A future 22,500-square-foot Student Success Center at OSU-Cascades in Bend will receive $13.8 million to help construct the $18.8 million center. The building will house services that improve student retention and progression toward degrees and careers. The center will include offices, meeting rooms, and gathering areas to support services such as career advising, internship coordination, academic advising, tutoring, disability access services, veterans support, student health services, and mental health counseling.

The full renovation of the west side grandstand of Reser Stadium will receive $40 million in state bonds to be repaid by the university’s intercollegiate athletics program. The $153 million project includes construction of a welcome center for prospective new students and a wellness clinic to serve students, faculty, staff, and the Corvallis community. The project will be supported by $85 million in philanthropy and $28 million in OSU-paid revenue bonds.

At Portland State University, the Legislature approved $50.69 million in general obligation bonds for the Gateway Reuse and Extension project. Another $18.3 million in dedicated fund obligations will support the transformation of the 112,300-square-foot center into a collaborative space for the School of Art and Design, Student Health and Counseling, and Speech and Hearing Sciences. This $73 million project will create new student space, labs, teaching spaces, materials storage, specialty clinics, a wellness center, and gallery/exhibit spaces. Completion is anticipated in August 2024.

Eastern Oregon University will receive $18.52 million in bond funds for the renovation of Inlow Hall, the first building erected on the campus. Modernization of electrical and mechanical systems, hardware and software enhancements, and accessibility improvements are part of the project scope.

SB 5505 is awaiting approval by Gov. Kate Brown.