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The Portland Development Commission is laying the groundwork for a major rehabilitation of Union Station 鈥� the city’s 121-year-old train depot.

The project, which wouldn’t begin until 2020 at the earliest, would restore and preserve the main concourse and replace the building’s mechanical, electrical and plumbing systems. Railroad tracks and platforms also would be replaced.

The unreinforced masonry building, clock tower and annex are in need of a full seismic retrofit, PDC officials said. The building is listed on the National Register of Historic Places, and the PDC is working to save the 鈥淯nion Station鈥� and 鈥淕o By Train鈥� signs that adorn the clock tower.

鈥淎 lot of people are excited about a revitalized train station,鈥� said Elise Hendrickson, the PDC’s construction services coordinator. 鈥淚t’s an iconic Portland building.鈥�

Existing office tenants on the second and third floors will be evicted, but such action may be years away.

鈥淭hey’ll have plenty of heads-up,鈥� Hendrickson said, adding that the PDC has already met with office tenants.

Current tenants include a few attorneys, architects, small nonprofit groups, poetry publisher Tavern Books and custom shoemaker ExIT Shoes. Many of the offices are vacant.

John Bradach, a construction attorney and mediator, has housed his solo law practice in Union Station since 2010.

鈥淚t’s real comfortable,鈥� he said. 鈥淚t’s not class-A space by any means. What I love is coming and going through the station.鈥�

Bradach, who intends to retire in a few years, said the PDC’s 2020 timeline 鈥渨orks for me.鈥�

It has yet to be decided whether the second and third floors will be retained as offices and renovated, or whether they will be repurposed. PDC officials emphasized it’s early in the process for the Union Station project.

鈥淚 think we’re leaning toward offices, but who knows what the future may hold?鈥� Hendrickson said.

PDC officials were reluctant to put a price tag on the rehabilitation effort, but Hendrickson said the cost would be 鈥渟ignificant.鈥�

鈥淔unding is a big unknown at this point,鈥� she said.

The PDC is likely to pursue state and federal grants for the project, including high-speed rail, energy conservation and historic preservation grants. The agency also is exploring the possibility of bringing in a private-sector partner.

鈥淭he very earliest construction would start is 2020, and that’s all contingent on finding funding sources,鈥� Hendrickson said.

DOWA-IBI Group has been hired for early design work for Union Station. HDR Inc. is examining the rail infrastructure and Amec Foster Wheeler is grappling with environmental issues at the site.

The future of Wilf’s Restaurant and Bar, a Union Station fixture since 1975, is an open question. General Manager Adele Nofield said there 鈥渨eren’t a lot of clear answers鈥� when she met with PDC staff recently.

鈥淥bviously, our goal would be to stay here,鈥� she said. 鈥淲e’re still quite successful. I’m not sure how that would all play out.鈥�

The remake of Union Station is seen as complementary to the Broadway Corridor plan for the U.S. Postal Service parcel that is estimated to result in聽3.8 million square feet of residential, office and retail development.

Train station officials have long dealt with complaints about homelessness and panhandling. The neighborhood remains somewhat gritty.

Amtrak serves the station with its Cascades, Coast Starlight and Empire Builder trains. The station sees 10 passenger trains a day, and two more will be added this summer. Union Station also sees light freight traffic.

Union Station in 2016 served more than 590,000 passengers 鈥� an amount that is expected to double in coming years. Amtrak officials did not respond to messages seeking comment. PDC officials said Amtrak and the Oregon Department of Transportation are interested in upgrades that would shave time from train trips through the station.