Downtown Eugene will see a $60 million development begin this year. Today, developers and partners unveiled an expansion of the 5th Street Public Market, that’ll replace a parking lot. KLCC’s Brian Bull reports.
The project consists of an 82-room boutique hotel, a 113-unit apartment building, and a three-story retail and office complex. It’ll be built on land owned by Lane County, and leased to Obie Companies.
Its Vice-President, Casey Barrett, says the development means more economic growth for the region.
“Right now the 5th Street Public Market brings in over a million and a half people a year," says Barrett.
"And we’re effectively doubling the size of the market with this expansion. So we wouldn’t be surprised if we’d be able to see a double in the number of people that we’re bringing down. Which would be incredible.
"Obviously that’s why we also need to create a larger regional draw, so we can pull more from the communities surrounding, the Florences, the Roseburgs, the Albanys, and create more of a destination in downtown Eugene.”
Groundbreaking is expected to happen later this year. The goal is to have everything built and open for business in 2021, in time for the World Track and Field Championships.
Copyright 2018, KLCC.