The 1803 Fund, an organization working to advance Portland’s Black community, on Thursday announced $70 million in real estate purchases, including the site of the former grain silos near the Moda Center.

The organization, which was formed in 2023 with a $400 million pledge from Nike co-founder Phil Knight and wife Penny Knight, also announced it had purchased several blocks in the lower Albina neighborhood, the historic center of Portland’s Black community.

“These are thousand-year investments,” said Rukaiyah Adams, 1803 Fund chief executive, in a news release. “We are investing in Albina not as an artifact of the past, but as a promise to the future. Our goal is to build something enduring, grounded in the people who have always called this neighborhood home.”

The real estate sits o

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