University of Oregon Accepts Keys Marking New Chapter for White Stag Building; Remodeling Underway for 2008 Opening of New Portland Facility

Business Wire, Sept 8, 2006

PORTLAND, Ore. -- The University of Oregon and Venerable Group, Inc. today accepted the keys to the historic White Stag Building from the Naito family, long-time owners of the landmark structure. The ceremony symbolizes the change in use that will occur when the university moves its Portland programs to the building on the signature White Stag Block in Old Town Portland. Remodeling has begun in anticipation of a January 2008 opening.

The White Stag Building was designed in 1907 as a manufacturing and warehouse facility by the Willamette Tent and Awning Company. The building is an integral part of the gothic Bickel Block designed in 1883. The Naito family acquired the property in 1972.

"The Naito family has been associated with the White Stag Building for many years. I am very pleased that the University of Oregon is moving its Portland programs here. I look forward to the energy the university will add to the revitalization of this important and historic part of the city," said Anne Naito-Campbell, a family member who took part in today's ceremony.

"It is a deep honor to receive keys to the building from the Naito family," said Dave Frohnmayer, university president. "We are excited to join the neighborhood, to expand our Portland programs and to further strengthen our services to the greater Portland area. The University of Oregon is committed to Portland and expects to remain a long-term partner in the community."

The building has been purchased by White Stag Block, LLC, managed by Venerable. The university has signed an 18-year lease, with an option to buy at the eighth year, for the building and portions of two other historic buildings also situated on the White Stag Block. With approximately 66,000 square feet of available space, the new Portland facility will unite university academic programs in one place and will allow the university to host lectures, exhibits and other public events. The center will include six classrooms, new event space for functions for up to 250 people, a new library for its architecture and journalism programs, a shared computer laboratory, and a new university book store/Duck Shop, which will also feature a cafe. In addition, the new facility will house administrative offices for 75 to 100 employees, including AHA International, a study-abroad program provider which operates under the auspices of the University of Oregon.

"Every building tells a story, and the White Stag tells a long, rich story of Portland and the Naito family," said Art DeMuro, president of Venerable. "Venerable is excited to be a partner in the next chapter of this landmark building's tale."

"Today we pass the torch from one of Portland's flagship families to our state's flagship university," said Portland Mayor Tom Potter. "In addition to all of the benefits of the university's expansion in Portland, I look forward to a long, fruitful partnership with the university, the Portland Development Commission (PDC) and the neighborhood to revitalize Old Town."

"The Portland Development Commission is extremely pleased to be a financial partner in this project that will bring new vitality, jobs and investment to the Skidmore/Old Town Historic District," said PDC Executive Director Bruce Warner. "The University of Oregon's presence here will offer a new 'front door' to the district and helps build tremendous confidence for others who may be looking to invest here."

The university's journalism, law, and architecture and allied arts programs are in strong demand among Portland-area professionals and prospective students. The School of Journalism and Communication's George S. Turnbull Portland Center opened its doors earlier this year and began offering its Eugene-based students a Senior Experience, combining half-day internships with late-afternoon classes in Portland last spring. Roundtable discussions bringing together working communications professionals to discuss the issues of the day are offered on a regular basis and graduate seminars in strategic communication will begin this fall.

The School of Architecture and Allied Arts has offered architecture and urban design courses in Portland for more than 25 years. Since 1998, its graduate program in architecture has been a centerpiece of the university programs offered in Portland. The school is known for the excellence of its cultural and fine arts, digital arts, historic preservation, planning, policy and environmental design programs. The program in architecture includes more than 75 graduate and undergraduate students studying and working in Portland and will expand enrollment with the addition of new faculty.

The Oregon Executive MBA Program is a joint program of the University of Oregon, Portland State University, and Oregon State University. This program recently moved to new facilities at 200 S.W. Market St., and is not included in the planned move of the university's Portland operations. The University of Oregon's current Portland facilities are in a university-owned building at 722 S.W. Second Ave., as well as elsewhere in the city in leased space.