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Friday, May 5 2006

By Su-Jin Yim

After years of stagnation, Old Town Chinatown is attracting high-profile interest.

On Thursday, the University of Oregon announced it had signed an 18-year lease to expand its Portland campus to the White Stag block on Naito Parkway.

The university hopes to offer classes there in January 2008.

Venerable Properties is renovating the block, which includes the White Stag building and two adjoining buildings, for as much as $30 million.

Among other things, the UO center will include six classrooms, event space for functions with as many as 250 people and a new university book store/Duck Shop that will feature a cafe. It also will house administrative offices for 75 to 100 employees including the university's study abroad program.

It's not clear how or whether the school will use the landmark neon sign atop the building, developer Art DeMuro said.

UO said it does not plan to immediately sell its current building at 722 SW Second Ave.

The lease is a shot of good news for Old Town Chinatown, which also may draw the new global headquarters for Mercy Corps. The agency has sought a new home for a year and has identified Old Town as the top contender, said Kathy Cooke, who's in charge of finding the new headquarters.

Mercy Corps would need 60,000 to 80,000 square feet to combine operations from five locations. The agency also may include a world hunger education center and community space in a building it would renovate or build new.

It hopes to complete its new home in two years with a budget set a year ago, between $10 million and $15 million for an environmentally friendly building for its more than 144 Portland employees, Cooke said.

Su-Jin Yim: 503-294-7611; suyim@news.oregonian.com

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