In
1965 the entire North Portland peninsula, encompassing 8,100
acres, became part of the Rivergate development plan. However,
Willamette University was forbidden to sell 1,970 acres located
at the tip of the northern peninsula. The land, acquired by
the university from the Leadbetter family in 1949 was held in
trust until 1998. But the Port condemned the land, forcing a
sale 35 years early. By 1991 the area had a property value of
$75,000 to $105,000 per acre.
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