Portuguese forests have changed in recent years. These changes were mainly boosted by the wildfires that affected a significant percentage of the softwood area. Data from 2015, conveyed by the Portuguese Institute for Nature Conservation and Forests, indicates that hardwoods occupy 70% of the Portuguese forest area. This paper presents the Blackwood (Acacia melanoxylon R. Br.) species potential, focusing on construction applications, based on recent studies performed at the University of Coimbra and SerQ—Forest Innovation and Competences Center. The valuation of Blackwood for structural applications has been considered through the non-destructive and destructive assessment of their mechanical properties as sawn wood. Their potential was also assessed for a more technologically engineered wood product, the glulam. The dynamic modulus of elasticity (MOE) was estimated through the Longitudinal Vibration Method (LVM) and the Transformed Section Method (TSM); the static MOE and bending strength were assessed through a four-point bending test. Agreement was obtained between both approaches. Sawn Portuguese Blackwood showed a density of 647 kg/m3, 13,900 MPa of MOE and a bending strength of 65 MPa (mean values). The glulam beams fabricated with this raw material had improved properties relative to sawn wood, most obviously concerning the bending strength, with an improvement of 29%. This proves the significant ability and potential of these species to be used in construction products with structural purposes like sawn wood and glulam.