Market study finds Keller Auditorium renovation would not deliver a Broadway-capable venue for Portland

Study narrows options for Portland’s next large-scale performing arts venue strategy

A newly released market feasibility study has concluded that Portland lacks sufficient demand to support two concurrent venues designed for large-scale, Broadway-style touring productions. The report also finds that renovating the Keller Auditorium would not produce a venue that meets current touring requirements for seating capacity and amenities, even after major investment.

The analysis, finalized in late 2025 and made public in January 2026, was commissioned after Portland leaders advanced a two-venue concept intended to keep touring productions in the region during an anticipated multi-year Keller closure for seismic and capital work.

Why the two-venue plan was studied

In October 2024, Portland City Council adopted a strategy to pursue two Broadway-capable venues: modernization of the Keller Auditorium and development of a new performing arts facility at Portland State University. The approach was framed as a way to avoid a gap in Broadway-capable capacity if the Keller were taken offline for an extended period. The same action directed the City to complete a market feasibility analysis and use its findings to inform subsequent financing and planning decisions.

Project materials made public by the City describe the Keller as the region’s only venue currently capable of hosting touring Broadway productions and other large-scale events, while also citing significant building needs, including seismic vulnerabilities typical of older structures.

Core findings: demand, seating and venue limitations

The feasibility study’s central conclusion is that Portland’s current entertainment ecosystem does not justify two large-scale commercial venues operating at the same time. The report also identifies specific constraints at the Keller site, stating that a renovated Keller would still fall short of recommended seating targets and the level of front-of-house and production-related amenities that are now standard for many top-tier tours.

The study identifies an ideal seating capacity of approximately 3,200 seats for a new Broadway-capable facility, emphasizing that this scale is intended to maximize visitation and revenue potential while supporting high occupancy across events.

• Insufficient market demand for two Broadway-capable venues operating concurrently
• Renovation of the Keller would not achieve the recommended seating capacity and amenities
• A new venue at Portland State University is presented as better suited to deliver the target capacity and supporting facilities

What the report recommends instead

Rather than prioritizing a Keller renovation as the pathway to a Broadway-capable facility, the study recommends development of a new venue on the Portland State University site. Project documents indicate this option is intended to avoid downtime in hosting Broadway and other commercial programming, while also preserving an audience subscriber base and maintaining a steady flow of events downtown.

City materials accompanying the release stress that the study is one component of a broader planning process and does not, by itself, constitute a final decision on construction, renovation, funding, or timelines.

Next steps and related work already underway

The feasibility report joins other recent work tied to the future of Portland’s major performing arts facilities, including a transportation study completed in 2025 and governance-focused recommendations produced by a 19-member Performing Arts Venues Workgroup. City project updates describe these inputs as part of a longer decision path for venue development, operations and oversight of the Portland’5 theaters.

No final construction plan has been adopted. City officials have indicated additional recommendations and planning steps will follow as the long-term strategy for large-scale performing arts in downtown Portland is evaluated.