Proposal for old Romania property in Eugene includes work 'in excess of $100,000,000'
EUGENE, Ore. - A Portland developer proposes to re-purpose the old Romania dealership and develop other amenities on the University of Oregon-owned property in a project projected to cost "in excess of $100,000,000."
"The developer's proposal, which is in the very early stages, includes a hotel, residential, office and some retail and even a restaurant or coffee shop in (...) the old Romania showroom, which we're excited to see," said Mike Harwood, UO associated vice president for campus planning.
Thomas Cody from Project PDX said the firm's plans are still in the early stages.
"The program of our University Village proposal, and therefore the size of the project, is still being evaluated and will remain in flux for at least a few months," Cody said Wednesday. "What I can offer is that the project as a whole will likely be in excess of $100,000,000."
The UO acquired the property from University of Oregon Foundation, which bought the land from the Romania family in 2005.
The University sought interested developers and is now working with Project PDX.
"In the best case scenario we would potentially start as early as this summer and try to make some part of the project ready for the World Championships in 2021," Harwood said. "And then for the community at large, I think they benefit because we've taken an under-utilized asset and turned it to something that is generating tax income."