The City of Eugene last week closed on the second phase sale of land parcels to Eugene Riverfront District LLC, which is led by Atkins Dame Inc., the experienced team chosen by the City to guide the development of the new Downtown Riverfront neighborhood. Atkins Dame purchased Parcels 9 and 10 for $4.3 million.
“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 started construction on the “Heartwood” project (Parcel 7) 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 “Portal” (Parcel 3BC), 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 (MWESB) enterprises.
“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. Once complete, the Downtown Riverfront will be home to about 500-1,000 new market-rate units and at least 75 units affordable to households with incomes up to 60 percent of Area Median Income. 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.
The design of the Downtown Riverfront Plaza, the second phase of the Park, continues with construction expected to begin in 2024.
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.