Nike Named As 5th Street Cornerstone Tenant
Eugene’s Fifth Street Market expansion is on schedule to open in just over a year. CEO Brian Obie announced its cornerstone tenant today, Nike.
Nike was part of the 5th Street Public Market from 1988 until 2008. Officials expect the re-opening on the corner of 6th and Pearl will stimulate expansion:
Semple: “Retail is struggling to survive and thrive downtown. We need more businesses to shop at and to attract more businesses to shop at. With this addition we can do it.”
City Councilor Emily Semple says she speaks for Eugene in welcoming Nike ‘home.’ The company has roots with figures like U of O track coach Bill Bowerman and alum and benefactor Phil Knight. The $75-80 million dollar project includes an 82-room boutique hotel, workforce housing and 15 retail tenants.
Obie says nine retail spots are in negotiation and only four remain available. They expect to open stores, hotel and housing all at once, in a festival style event before next November.