PSU seeks $44M city pledge to back a 3,000-seat Broadway venue in Portland

Portland’s City Life Committee is weighing a PSU-backed plan to build a $450 million, 3,000-seat Broadway venue on the site of the University Place Hotel, with PSU asking the city to commit $44 million by December to unlock state bond money and attract private funding. The project would run alongside Keller Auditorium, which would stay open until 2030 before a seismic upgrade and downsizing of the historic venue. City leaders say approval would kick off design and financing steps without an immediate expenditure, while critics warn against funding before a solid plan.