PORTLAND, Ore. (KOIN) — The proposal to replace the Keller Auditorium with a new performance venue is inching closer to becoming a reality.

Portland State University’s proposal for a world-class performing arts center will be reviewed by city officials during an interview session next week.

The proposed venue would include a 3,000-seat auditorium, an outdoor plaza, an on-site boutique hotel, a conference center and educational facilities.

It’s the only plan submitted that would maintain Portland’s premiere arts venue in the downtown area.

“Portland State University has been and will continue to be a powerful force in the revitalization of downtown Portland,” PSU President Ann Cudd said. “Our proposal looks toward building for the future of this great city, not renovating its past.”

Portland State owns the proposed site and would offer a long-term land lease.

“PSU has renovated or built eight central city projects in the last 12 years — including the $111 million Vanport Building that counts the City among its four owners — with a total value over $600 million,” the school said in a press release.