State Of Oregon Approves $50M In Bond Funds For UO Research Campus
The Oregon legislature approved $50M in bond funds for the Phil and Penny Knight Campus for Accelerating Scientific Impact, a planned three-building campus at the University of Oregon. Its purpose will be to shorten the timeline between laboratory discovery and societal impact through research, training and entrepreneurship.
The school had asked for $100M in bond funding. During its next two-year budget cycle, UO will renew its efforts to obtain the other $50M.
The campus will include three 70K SF buildings next to the university's existing science complex. Last year, the Knights gave the University of Oregon $500M to help develop the property.
In June, the development took a major step forward when the university closed on a property at Franklin Boulevard and Agate Street in Eugene that will clear the way for Phase 1 of the project. Groundbreaking is slated for the fall.
"CORRECTION, JULY 10, 9:30 A.M. ET: A previous version of this article incorrectly portrayed the timeline of bond funding. It has been updated to reflect the two-year budget cycle."