As Portland Public Schools searches for a new headquarters, outgoing board member Gary Hollands has proposed that the district consider purchasing the downtown U.S. Bancorp Tower.
The prominent structure, colloquially known as Big Pink due to its distinct hue, could serve as an ideal home for the school district according to Hollands.
In an interview with The Oregonian/OregonLive, he remarked on the potential significance of the move, stating, “I think it would be great for the city. It would be the start of a renaissance movement for downtown Portland to have an organization like PPS occupy that space.”
Hollands, who did not seek reelection for his Zone 5 seat representing Northeast Portland, welcomed Virginia La Forte as the new board member after winning the May election.
The U.S. Bancorp Tower is currently on the market for approximately $70 million. This is notably lower than its record price of $372.5 million a decade ago, as reported by JLL.
Hollands emphasized the potential benefits of the building, including ample space for district operations and possible cost savings compared to ongoing leasing expenses at other locations.
However, over half of the 1.15 million-square-foot structure remains unoccupied, leading to discussions among brokers about its future.
Portland Public Schools is actively collaborating with the Albina Vision Trust, a nonprofit working on redeveloping the historic Lower Albina neighborhood, in its search for a new headquarters.
In a significant move, the school board approved an agreement that allows Albina Vision Trust to assist in locating a new base in exchange for selling its current headquarters at the Prophet Education Center.
This current site spans 10.5 acres but is less than a third of the size of the U.S. Bancorp Tower, which could lead to a favorable transition for the district’s operations.
Earlier news revealed that the district established minimum criteria for its new headquarters, which emphasizes ownership of the property over leasing and requires that administrative offices remain centrally located within district boundaries, with an exception for an operations center that might be situated outside those boundaries.
The district is seeking up to 282,000 square feet of space in its new location.
On May 16, Portland Public Schools issued a “request for information” aimed at identifying potential properties available for purchase with a submission deadline set for June 13.
Winta Yohannes, executive director of Albina Vision Trust, noted, “AVT and PPS will evaluate responses together and go from there.”
The school district has intentions to finalize a new headquarters by late 2025 or early 2026, aiming for relocation by late 2026 or early 2027.
Despite the enthusiasm for potential acquisition, purchasing U.S. Bancorp Tower could introduce challenges, particularly regarding security and the district’s role as a commercial landlord.
Last year, the tower faced a setback when U.S. Bank, its long-standing tenant, declined to renew a lease covering over 200,000 square feet.
The area around the office complex has struggled with crime, drug use, and graffiti issues, although both public and private initiatives are being implemented in efforts to improve the situation.
Hollands did state a key requirement for his proposition would be to ensure “top-notch” security for district officials if they were to occupy the building.
He admitted that while the district could not fill all available space in the building immediately, new leases generated by its presence could create additional revenue streams benefiting Oregon’s largest school district.
Hollands suggested that transforming the U.S. Bancorp Tower into the new headquarters could also help attract new tenants back to downtown Portland, which has seen a significant rise in vacant offices.
According to brokerage firm CBRE, approximately one-third of office spaces in the urban core remain unoccupied, leading to financial challenges for the district related to decreased tax revenues from property values.
Nevertheless, Hollands remains optimistic, believing that such a transformation could bring much-needed stability back to the area.
Inquiries made to a spokesperson for Portland Public Schools regarding this initiative did not receive immediate responses.
Additionally, representatives of Unico Properties, co-owners of U.S. Bancorp Tower, chose not to comment on Hollands’ proposal.
image source from：https://www.oregonlive.com/business/2025/05/outgoing-portland-school-board-member-says-district-should-buy-big-pink.html
