The acreage, owned jointly by developer Homer Williams and Oregon Health Science University is located south of the Ross Island Bridge, adjacent another 10 acres Williams already owns. The two properties together make up what is referred to as the area's Central District. The general plan is for the 28-acre district to include OHSU facilities, several hundred residential units, a conference center and hotel development and office space.

After the 18 acres is officially divided, Williams says he will end up with the equivalent of three city blocks and OHSU will end up with four, "and we will jointly own the hotel site." At that point, the buying entity, River Campus Investors LLC, will dissolve and OHSU will directly own their property and Williams will own his under North Macadam Investors LLC, the same entity that owns the adjacent 10-acre parcel.

The plans to break ground on the first Central District building this time next year and complete the first phase -- one building for OHSU and 200 residential units -- in early 2005. By that time, Homer says he expects the city's new streetcar line will have been extended through the area and an aerial tram will have connected the Central District to OHSU's landlocked campus atop Marquam Hill.