After securing a $40 million bond from the state legislature, Portland State's business school is looking forward to updating its facilities.
Real-estate company ScanlanKemperBard Companies announced the acquisition Friday.
City Council criticized by both sides as discussion about neighborhood preservation inches toward resolution.
The deal would meet city's goals of providing more housing options for low-income families in South Waterfront.
Portland and most of the country have emerged from the housing bubble bursting, but some areas of Oregon continue to struggle.