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Meyer Memorial Trust will build a new headquarters in Albina, with site preparation and construction to begin in late 2018, the organization announced.

The trust, one of Portland’s most prominent nonprofits, in January purchased an industrial lot at 2045 N. Vancouver Ave. for $4.96 million. The 25,000-square-foot parcel has been the site of Sergeants Towing since 1995.

Local developer Project^ will develop the new headquarters, and Fieldwork Design & Architecture will design the building, which is expected to be about 20,000 square feet.

The project will involve demolishing the existing cinder block and metal sheet structure, but timber supports inside will be 鈥渃reatively used鈥� in the new design, according to a news release. Initial plans call for a three-story structure.

A Fieldwork partner referred questions about the project to the nonprofit.

Meyer Memorial Trust CEO Doug Stamm acknowledged in a news release Albina’s history of urban renewal and gentrification that drove out many of the neighborhood’s African-American residents. The organization pledged to be 鈥渁 good neighbor.鈥�

鈥淎s new neighbors, we look forward to supporting efforts by many people and organizations, including the Albina Vision Trust, to ensure that as Albina evolves toward an exciting future, it remains an affordable, thriving and diverse central city community,鈥� Stamm stated.

Many of Meyer Memorial Trust’s employees live in North and Northeast Portland, according to the news release.

The Vancouver Avenue property is near Legacy Emanuel Medical Center, Ex Novo Brewing and a CrossFit gym. It’s also close to the Hill Block, a vacant lot owned by Legacy Health that is under consideration for redevelopment by the hospital group and Prosper Portland.

Meyer Memorial Trust will move from its existing, 11,000-square-foot leased office at 425 N.W. 10th St. in the Pearl District. The organization, with 42 employees, anticipates moving into the new Albina office in early 2020.

The Albina property was purchased with money from the nonprofit’s endowment. The organization is considering financing options for the design and construction phases. The property is zoned central employment, with a design overlay (EX-d).

Meyer Memorial Trust has $800 million in assets, and donates to a wide range of causes, including preservation of affordable housing, restoration of the Willamette River watershed and support of rural museums.

In February, Meyer Memorial Trust announced Michelle J. DePass will succeed Stamm as CEO on April 30.