Oregon Public Broadcasting

Portland General Electric announced an agreement Tuesday, in which the historic Bull Run Powerhouse will be sold to a private company instead of being demolished. Kristian Foden-Vencil reports.

The company, Re Gen Partners, doesn't know what it's going to do with the 1913 structure yet. But the new owners say they want to preserve it and somehow make it available to the public.

Asked if it was going to be a hotel, a school or a museum, one of the partners, Jeff Joslin, said nothing's being ruled out.

Jeff Joslin: "It is a bit of a cliff to be leaping off, particularly when you can't see the bottom. Whenever we get a little nervous about it we go up there, we take on step into the great hall, that is the room that houses the generators and has this series of paladium windows opening up to the river, we just fall in love with it and the mission all over again."

The powerhouse was left after two dams were taken out of the Little Sandy River over the last decade.

The deal still needs federal approval.