First phase of complex promises $1.6M boost to downtown economy
EUGENE, Ore. - Newly completed apartments downtown could bring a $1.6 million economic stimulus to downtown Eugene, with more to come as continued contruction nearly triples the size of the complex.
All 114 units in the first phase of the Capstone Collegiate Communities project known as 13th and Olive have been leased.
Pending completion of city inspections, the first 380 residents could start moving in as early as this week, a spokesman said.
A city building official had no estimate of when their work would be complete.
Dave Hauser with Downtwon Eugene Inc. estimates those 380 students will bring a $1.6 million infusion into the downtown economy.
He hasn't done the calculations yet on what the completed project will mean: Capstone plans to build out another 320 apartments to accomodate another 900 residents.
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