April 24, 2024

Whole Community News

From Kalapuya lands in the Willamette watershed

Riverfront project closes on next 2 land parcels for $4.3 million

3 min read
The new downtown riverfront neighborhood officially acquired its next two land parcels. The neighborhood's first apartment building, scheduled for completion in 2024, will have four stories and 95 units.

from Amanda D’Souza, Eugene Planning and Development

The downtown riverfront project marked another milestone in its progress towards providing 500 to 1,000 new market-rate units, and at least 75 units affordable to households with incomes up to 60 percent of area median income.

Last week, the city closed on the second phase sale of land parcels to Eugene Riverfront District LLC.

“This is another exciting milestone for the downtown riverfront project,” said Denny Braud, Planning and Development director. “Each milestone adds to the synergy already created by the realization of the Downtown Riverfront Park and the construction that’s already underway on Parcel 7.”

Atkins Dame Inc. purchased Parcels 9 and 10 for $4.3 million. Atkins Dame Inc. leads the team guiding development of the new downtown riverfront neighborhood.

“We are pleased to partner with the city to fulfill its decades-long vision of connecting downtown to a vibrant residential community along the Willamette River,” said Jim Atkins, Atkins Dame Inc. co-owner.

The city remains on target to complete the sale of all market-rate housing parcels by the end of 2023 for a total purchase price of $11.1 million.

Redevelopment of the downtown riverfront has been a part of the community’s vision for decades. The city’s Urban Renewal Agency is leading the redevelopment of 16 acres of riverfront property that will become Eugene’s riverfront neighborhood – directly connecting the downtown and campus areas to the Willamette River and creating more access points for the community to enjoy. 

The community helped name the three new streets on the downtown riverfront site in 2019. The streets will be named Annie Mims Lane, Nak-nak Avenue, and Wiley Griffon Way.

Atkins Dame closed on the first set of parcels in October 2021 and the second set of parcels in December 2022.

Atkins Dame started construction on the Parcel 7 “Heartwood” project in August 2022. Located on 5th Avenue just east of the viaduct, this first building will be four stories with 95 market-rate apartment homes. The project is expected to be completed in early 2024.

Construction on the Parcel 3BC “Portal” project, a new community with 130 market-rate apartment homes, is scheduled to start next year. The Portal is located at the southwest intersection of 4th Avenue and Mill Street.

Both projects are designed to the standards of Earth Advantage Gold and will exceed current energy codes. They are also designed to meet Fitwell 1-star compliance, a “healthy building” standard that includes amenities such as fitness rooms and bike racks. Construction will result in local job creation with minority, women and emerging small business enterprises.

Design continues on the Downtown Riverfront Plaza, the second phase of the park, with construction expected to begin in 2024.

The City is in the process of determining the path forward for its affordable housing project, which will be located at the northwest corner of 4th Avenue and Mill Street.

Atkins Dame submitted Multi-Unit Property Tax Exemptions (MUPTE) applications for the first three proposed projects, located on parcels 3B/3C, 7, and 9 (see map). In total, the projects would result in the addition of 381 new market-rate residential units on the Downtown Riverfront. The City Council approved MUPTEs for the three projects in March 2022.

For more information about the Downtown Riverfront Project, which includes the Steam Plant, visit eugene-or.gov/riverfront. The latest information about the Downtown Riverfront Park can be found at eugene-or.gov/riverfrontpark.

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