HomeMy WebLinkAboutItem 1 Springfield Motors Downtown Developer UpdateAGENDA ITEM SUMMARY Meeting Date: 10/26/2020
Meeting Type: Regular Meeting
Department: CMO
Staff Contact: Courtney Griesel, Economic
Development
S P R I N G F I E L D ECONOMIC Staff Phone No: (541) 726-3700
DEVELOPMENT AGENCY Estimated Time: 40 Minutes
ITEM TITLE: SPRINGFIELD MOTORS DOWNTOWN DEVELOPER UPDATE
ACTION
REQUESTED:
Provide direction to staff regarding next steps in outlining a Springfield Economic
Development Agency (SEDA) partnership with owners of the Downtown Springfield
Motors site and Northwest Sustainable Properties (NWSP) and direct staff to bring refined
partnership strategies to the Board for consideration prior to January 1.
ISSUE
STATEMENT:
In March of 2020, the SEDA approved a request from owners of 702 A Street, referred to
as the Motors Site, to partially fund $50,000 in initial mixed-use residential feasibility
assessments by development firm NWSP. NWSP will present findings, opportunities, and
assessment of project variables, including financial proformas based on market data,
project constructability, and opportunity zone constraints. This presentation and
information will provide an opportunity for the Board to discuss the findings and ask
questions of NWSP. Based on this presentation and meeting, the Board might direct staff
to further explore financial partnership strategies for later Board consideration.
ATTACHMENTS: Attachment 1 – October Northwest Sustainable Properties Presentation
Attachment 2 – July 2020 Scherer Update Communication
Attachment 3 – Northwest Sustainable Properties/Veillet Developer Resume
Attachment 4 – Opportunity Zone Information Sheet
DISCUSSION/
FINANCIAL
IMPACT:
During the March 9, 2020 SEDA meeting, the Board took action to financially support
initial feasibility work by NWSP and the Scherer family, owners of 702 A Street.
Assessment outcomes and strategies to be discussed include;
Development Code Review & Evaluation: Identifies potential benefits of utilizing cross
laminated (CLT) and mass timbers and impacts of density and height on the project,
focusing the project on the south-east site corner.
Architectural Massing Studies: Includes a new mid-rise construction project with seven
floors of market rate residential (85 units) over one floor of commercial.
Preliminary Constructability & Project Costs: Envisions utilization of CLT as a
mechanism to control costs while working to achieve densities needed for feasibility. This
work also provides insight into impacts of fees, taxes, and materials markets, contributing
to overall costs. Initial total project costs are estimated at $27M.
Economic Feasibility Assessment of Project Pro Forma: Outcomes identify a priority
of one and two bedroom units, anticipated rents, importance of adjacent surface parking in
initial phase, and current rental market capacity to support new project construction. The
pro forma indicates the anticipated financial gap between project costs and feasibility.
During this presentation, NWSP will present the project vision and assessment outcomes,
specifically addressing relationships between constructability, market demand, and factors
contributing to the project’s financial gap.
Request: At the Board’s direction, staff might research and propose strategies available to
SEDA for contribution to successful construction of the project. Strategies might include a
combination of further project cost refinement, fee/permit payments, grants, ownership,
infrastructure development, tax abatements, and loans, etc.
Request: It is preferred to designate the project as an opportunity zone project prior to
January 1st. For this reason, and due to time sensitivity of assessment information, staff is
requesting Board support to meet prior to January 1st. This meeting would be to consider
and potentially select refined strategies for SEDA participation.
1 OF 19PAGE:
SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
DESIGN BUILD
SPRINGFIELD MOTORS
DEVELOPMENT REPORT - OCTOBER 2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
Attachment 1, Page 1 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
A STREET
B STREET
C STREET
MAIN STREET7TH STREET8TH STREET6TH STREET9TH STREETSITE LOCATION
SITE LOCATION, CONTEXT & EXISTING CONDITIONS
Attachment 1, Page 2 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
SPRINGFIELD ZONING MAP & EXISTING SITE INFORMATION
EASEMENT
NORTH PARCEL
PHASE 2 - FUTURE DEVELOPMENT
10 FT MAX SETBACK
25 FT MIN. BUILDING HEIGHT
BUILDING HEIGHT SUBJECT TO SHADE POINT
HEIGHT REGULATIONS PER 3.2-225A
SOUTHWEST PARCEL
PHASE 1B - FUTURE RENOVATION
EXISTING BUICK DEALERSHIP
SOUTHEAST PARCEL - FOCUS SITE
PHASE 1A - PROPOSED DEVELOPMENT
90 FT MAX BUILDING HEIGHT
25 FT MIN. BUILDING HEIGHT
2 STORIES MIN.
10 FT MAX STREET SETBACK ON A-STREET
NO VEHICLE ACCESS ALLOWED FROM A-STREET
• BUSINESS AND PROFESSIONAL OFFICES AND PERSONAL SERVICES
• EATING AND DRINKING ESTABLISHMENTS (INCLUDING TAVERNS AND
BREW PUBS)
• RECREATIONAL FACILITIES
• RELIGIOUS, SOCIAL AND CIVIC INSTITUTIONS
• RESIDENTIAL USES IN AREAS DESIGNATED MIXED-USE IN THE METRO
PLAN OR REFINEMENT PLANS
• RETAIL SALES
• TRANSIENT ACCOMMODATIONS
ALLOWED USES - MIXED USED COMMERCIAL (MUC) ZONE MUC - ZONE DEVELOPMENT STANDARDS
• MINIMUM FLOOR AREA = 6000 SF
• MIN F.A.R. = .40
• 40 FT MIN. STREET FRONTAGE
• 60% MIN. GROUND FLOOR AREA AS
COMMERCIAL USE
• UNLIMITED LOT COVERAGE
• BUILDING SETBACK = O FT
ZONING MAP
NOT TO SCALE
EXISTING SITE PLAN DIAGRAM
NOT TO SCALE
SITE LOCATION
Attachment 1, Page 3 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
MASSING STUDIES
Attachment 1, Page 4 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
SITE MASSING DIAGRAM
4 STORIES RESIDENTIAL TYPE VA: 62,000 SF
1 STORY COMM. / RES. TYPE IA: 15,900 SF
52FT BUILDING HEIGHT
85 TOTAL RESIDENTIAL UNITS
58 ONE BEDROOM UNITS
23 TWO BEDROOM UNITS
4 THREE BEDROOM UNITS
77,900 SF TOTAL BUILT SF
53,845 SF RESIDENTIAL LEASABLE
6,745 SF COMMERCIAL LEASABLE
12,070 SF COMMON AREA / CIRCULATION
5,240 SF ROOF DECK AREAB STR EETA S TR EET7TH STREET
8TH STREET
7 STORIES RESIDENTIAL TYPE IV -C: 63,980 SF
1 STORY COMMERCIAL TYPE IV-C: 9,020 SF
TOTAL 73,000 SF
85FT BUILDING HEIGHT
(MASS TIMBER CONSTRUCTION)
84 TOTAL RESIDENTIAL UNITS
49 ONE BEDROOM UNITS
28 TWO BEDROOM UNITS
7 THREE BEDROOM UNITS
PHASE 1
PHASE 2
Attachment 1, Page 5 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
B STREET
A STREET 8TH STREET7TH STREETPHASE 1A
7 STORY
MIXED USE
PHASE 1B
HISTORIC
DEALERSHIP
REOVATION TO
RESTAURANT /
BREWERY
PHASE 2
FUTURE
80 RESIDENTIAL UNITS
PARK / PLAYGROUND
OUTDOOR SEATINGPEDESTRIAN ACCESS7T
H
A
V
E
8T
H
A
V
E
B STR
E
E
T
A STR
E
E
T
PHASE 1 - SITE DIAGRAM & MASSING
PROPOSED SITE PLAN DIAGRAM
NOT TO SCALE
85' - 0"RESIDENTIALCOMMERCIAL7TH STREET 8TH STREET
PHASE 1A
PROPOSED 7 STORY
DEVELOPMENT
PHASE 1B
HISTORIC DEALERSHIP
RENOVATION TO
RESTAURANT / BREWERY
EXISTING POST OFFICE
Attachment 1, Page 6 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
PHASE 1B
EXISTING CAR DEALERSHIP
RENOVATION TO RESTAURANT /
BREWERY / F&B
200 SF
STAIR 372 SF
CORRIDOR
3,326 SF
COMMERCIAL B
(F&B)
321 SF
LOBBY
90 SF
ELEV
218 SF
STAIR
522 SF
MEP / TRASH
2,181 SF
BIKE STORAGE
753 SF
COMMERCIAL A
835 SF
COVERED
OUTDOOR
SEATING F&B BACK OF
HOUSE
PHASE 2
FUTURE +/- 80
RESIDENTIAL UNITS
PHASE 2 PARK & PLAYGROUND
EXISTING POST
OFFICE
A STREET7TH STREET1,089 SF
3 BEDROOM
819 SF
2 BEDROOM
510 SF
1 BEDROOM
616 SF
CIRCULATION
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
732 SF
2 BEDROOM
217 SF
STAIRS90 SF
ELEVATOR
267 SF
AMENITY
736 SF
2 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
200 SF
STAIRS
748 SF
2 BEDROOM
PHASE 1 - FLOOR PLANS
1ST FLOOR PLAN & SITE PLAN
NOT TO SCALE
2ND - 8TH FLOOR PLAN
NOT TO SCALE
Attachment 1, Page 7 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
WHY CLT (CROSS LAMINATED TIMBER) CONSTRUCTION?
ADVANTAGES OF CLT CONSTRUCTION
LOCALLY SOURCED MATERIAL
DESIGN FLEXIBILITY
THERMAL PERFORMANCE AND ENERGY EFFICIENCY
COST EFFECTIVENESS
ENVIRONMENTAL ADVANTAGES
TIMBER AS RENEWABLE RESOURCE
FAST INSTALLATION
FIRE PROTECTION
SEISMIC PERFORMANCE
LESS WASTE THAN STICK BUILT WOOD CONSTRUCTION
SUSTAINABILITY MANAGED FOR-
EST LAND SUPPLYING TIMBERS
REGIONALLY HANDLED AND PROCESSED LUMBER
RESULTING IN A LOWER CARBON FOOTPRINT BUILDING
THAN STEEL OR CONCRETE
END USER STRUCTURE THAT IS SOURCED
REGIONALLY, HAS A LOW CARBON FOOTPRINT AND
AESTHETICALLY WARMER THAN A CONCRETE OR
STEEL MID RISE BUILDING
ACTIVE FOREST MANAGEMENT
ADVANCED MANUFACTURING
STORED CARBON
RECYCLABLE
CLEANER ENERGY
NATURAL TIMBER
SUPPLY CHAIN
Attachment 1, Page 8 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
PROJECT FUNDING & SCHEDULE - PHASE 1
SENIOR DEBT
$17.9 MILLION
INVESTORS
$4 MILLION
GAP
$5.25 MILLION
$27.15 MILLION
COST TO COMPLETE PHASE 1
$20.25 MILLION
LOCAL RENTS CAN AFFORD
DEVELOPMENT FUNDING SOURCE ANALYSIS DEVELOPER FUNDED5.25 MILLIONGAPEXPAND HOUSING OPPORTUNITIES
• INTRODUCE NEW MARKET RATE PRODUCT THAT BRIDGES THE GAP IN
DEVELOPMENT COSTS AND LOCAL RENTS
• ADD MARKET RATE HOUSING TO THE LOCAL SPRINGFIELD ECONOMY
• EXPAND HOUSING OPPORTUNITIES
• INCREASE SELECTION OF MARKET RATE HOUSING AVAILABILITY
• BOOST LOCAL PROPERTY VALUES
• GENERATE LOCAL ECONOMIC ACTIVITY
• INCREASE TAX BASE
• PROVIDE MARKET RATE HOUSING ON PAR WITH LOCAL JOBS
- HIGHER EDUCATION
- ADVANCED WOOD PRODUCTS
- FOOD & BEVERAGE MANUFACTURING
- TECHNOLOGY
- HEALTHCARE
• EMERGE FROM COVID 19 & FOREST FIRES WITH INSPIRATION FOR THE
FUTURE OF SPRINGFIELD
$21.9 MILLION
DEVELOPER FUNDED
FEASIBILITY
QTR 4
YEAR 2021YEAR 2020
DESIGN & ENGINEERING
QTR 3 QTR 1 QTR 2 QTR 3 QTR 4
PERMITTING
QTR 1 QTR 2 QTR 3 QTR 4
YEAR 2022
CONSTRUCTION (ESTIMATED @ 24 MONTHS)
QTR 1 QTR 3
YEAR 2023
QTR 2
PROJECT SCHEDULE
QTR 4 QTR 1
YEAR 2024
Attachment 1, Page 9 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Property Map
#Property Name Address Year Units Level Area ERPU ERPSF Occ
1 Amazon Corner 747 E 32nd Ave, Eugene, OR 97405 2019 117 5 653 $1,359 $2.08 97.4%
2 Ecco 60 Hatton Ave, Eugene, OR 97404 2015 192 3 945 $1,234 $1.31 93.8%
3 Heritage Meadow 2459 Lakeview Dr, Eugene, OR 97408 2013 173 3 950 $1,227 $1.29 98.8%
4 Riverwalk 470 Alexander Loop, Eugene, OR 97401 2014 271 4 925 $1,286 $1.39 89.7%
5 The Bailey at Amazon Creek 3655 W 13th Ave, Eugene, OR 97402 2016 252 3 1,101 $1,455 $1.32 95.2%
6 The McKenzie at Crescent Village 2847 Tennyson Ave, Eugene, OR 97408 2020 174 4 960 $1,427 $1.49 32.2%
7 The Patterson 1331 Patterson St, Eugene, OR 97401 2014 100 5 690 $1,446 $2.10 91.0%
8 The Tennyson at Crescent Village 2850 Shadow View Dr, Eugene, OR 97408 2017 263 3 1,073 $1,488 $1.39 94.7%
1
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Rental Revenue Index (RRI) Proposed
Average: $1.54 640 SF
Property Name Levels Year Built Unit Qty Area/Unit Rent/Unit Rent/SF
Amazon Corner*5 2019 117 653 $1,359 $2.08 $2.12
Ecco 3 2015 192 945 $1,234 $1.31 $1.93
Heritage Meadow 3 2013 173 950 $1,227 $1.29 $1.92
Riverwalk 4 2014 271 925 $1,286 $1.39 $2.01
The Bailey at Amazon Creek 3 2016 252 1,101 $1,455 $1.32 $2.27
The McKenzie at Crescent Village*4 2020 174 960 $1,427 $1.49 $2.23
The Patterson 5 2014 100 690 $1,446 $2.10 $2.26
The Tennyson at Crescent Village 3 2017 263 1,073 $1,488 $1.39 $2.33
Effective Rent Occ Rental Revenue RRI
Apr 19 $1,394 95.8% $1,336 1.00
May 19 $1,421 96.1% $1,365 1.02
Jun 19 $1,456 97.7% $1,423 1.06
Jul 19 $1,480 96.6% $1,430 1.07
Aug 19 $1,467 96.2% $1,412 1.06
Sep 19 $1,449 91.5% $1,325 0.99
Oct 19 $1,465 90.0% $1,318 0.99
Nov 19 $1,427 94.1% $1,343 1.00
Dec 19 $1,430 92.9% $1,328 0.99
Jan 20 $1,435 92.7% $1,329 0.99
Feb 20 $1,487 94.4% $1,404 1.05
Mar 20 $1,469 93.7% $1,376 1.03
Apr 20 $1,359 93.9% $1,276 0.95
Average** $1,445 94.1% $1,361 1.02
**Averages do not include starting month. The data in comp set does not include non same store properties.
Comps
Address
747 E 32nd Ave, Eugene, OR 97405
60 Hatton Ave, Eugene, OR 97404
2459 Lakeview Dr, Eugene, OR 97408
*Non-same-store property
Comp Set
Month
1. Effective Rent. Market rent less concessions. 2. Occ. Physical occupancy rate. 3. Rental Revenue. Equals the Effective Rent times the Occ rate. 4. RRI. The first month is the starting month and is assigned a value of 1. The RRI
in the second month is the Rental Revenue in the second month divided by the Rental Revenue in the starting month. Thereafter, each month's Rental Revenue is divided by the starting month's Rental Revenue. 5. RRI Comparative
Ratio. The product of the Subject's RRI divided by the Comps' RRI. 6. YTD Variance. The Comparative Ratio in each month is divided by the starting month's ratio.
470 Alexander Loop, Eugene, OR 97401
3655 W 13th Ave, Eugene, OR 97402
2847 Tennyson Ave, Eugene, OR 97408
1331 Patterson St, Eugene, OR 97401
2850 Shadow View Dr, Eugene, OR 97408
0.88
0.90
0.92
0.94
0.96
0.98
1.00
1.02
1.04
1.06
1.08
Comp Set Rental Revenue Index
RRI
1
Attachment 1, Page 11 of 20
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Monthly Trends
Effective Rent Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20
Amazon Corner $1,212 $1,212 $1,212 $1,292 $1,354 $1,358 $1,370 $1,406 $1,461 $1,417 $1,358 $1,360 $1,359
Ecco $1,389 $1,415 $1,456 $1,445 $1,422 $1,378 $1,417 $1,345 $1,322 $1,385 $1,481 $1,356 $1,234
Heritage Meadow $1,170 $1,208 $1,208 $1,208 $1,208 $1,208 $1,208 $1,227 $1,227 $1,227 $1,227 $1,227 $1,227
Riverwalk $1,490 $1,569 $1,568 $1,574 $1,555 $1,541 $1,521 $1,463 $1,428 $1,509 $1,539 $1,565 $1,286
The Bailey at Amazon Creek $1,436 $1,434 $1,439 $1,456 $1,435 $1,456 $1,459 $1,455 $1,448 $1,329 $1,448 $1,452 $1,455
The Patterson $1,163 $1,163 $1,163 $1,356 $1,341 $1,304 $1,320 $1,414 $1,440 $1,446 $1,446 $1,446 $1,446
The Tennyson at Crescent Village $1,495 $1,498 $1,633 $1,657 $1,659 $1,615 $1,671 $1,560 $1,625 $1,628 $1,660 $1,637 $1,488
The McKenzie at Crescent Village $1,545 $1,545 $1,518 $1,427
Occupancy Rate Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20
Amazon Corner 93.2% 96.6% 45.3% 96.6% 95.7% 95.7% 98.3% 97.4% 94.9% 93.2% 93.2% 89.7% 97.4%
Ecco 97.9% 95.8% 94.8% 93.8% 96.4% 96.9% 94.8% 93.2% 93.8% 94.8% 97.9% 98.4% 93.8%
Heritage Meadow 98.8% 98.8% 98.3% 98.3% 98.8% 100.0% 94.8% 97.1% 96.5% 94.2% 100.0% 96.0% 98.8%
Riverwalk 97.4% 95.9% 100.0% 100.0% 95.9% 98.5% 93.0% 89.7% 92.3% 93.0% 91.9% 91.5% 89.7%
The Bailey at Amazon Creek 94.1% 98.0% 99.6% 98.0% 99.6% 98.4% 97.6% 99.2% 94.4% 92.9% 90.1% 94.8% 95.2%
The Patterson 98.0% 98.0% 98.0% 97.0% 94.0% 26.0% 20.0% 87.0% 89.0% 91.0% 91.0% 91.0% 91.0%
The Tennyson at Crescent Village 91.6% 92.0% 95.1% 92.8% 92.4% 92.8% 99.6% 95.1% 90.5% 90.1% 96.2% 90.9% 94.7%
The McKenzie at Crescent Village 0.0% 25.3% 28.2% 32.2%
Prelease Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20
Amazon Corner 98.2% 97.0% W 99.1% 99.1% 98.0% 100.0% 97.4% 95.7% 93.1% 93.1% 95.7% 97.4%
Ecco 97.5% 96.0% 95.0% 94.0% 96.8% 97.0% 95.0% 93.0% 94.0% 95.0% 97.0% 98.0% 95.0%
Heritage Meadow 98.3% 98.0% 98.0% 100.0% 99.0% 100.0% 98.3% 98.0% S S S 99.0% 99.0%
Riverwalk 97.8% S 98.5% 100.0% 97.0% 97.0% 95.5% 91.5% 94.9% 94.0% 93.0% 90.0% 91.0%
The Bailey at Amazon Creek 94.4% 94.8% 98.0% 99.2% 99.2% 98.4% 95.2% 97.6% 92.4% 90.0% 89.2% 93.2% 89.6%
The Patterson 27.0% 53.3% W 65.4% 69.1% 81.2% W S S S W W W
The Tennyson at Crescent Village W 96.2% 98.1% 93.1% 92.4% 97.7% 95.0% 90.4% 92.0% 92.0% 92.0% 92.4% 92.6%
The McKenzie at Crescent Village U/L U/L 32.1% 38.0%
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Unit Type Summary
R.S.F. 0 Bed / 1 Bath S.F. Rent
R.S.F. 0 Bed / 1 Bath S.F. Rent R.S.F.
2.0705 Amazon Corner 397 822 $2.07 Riverwalk 486 $892 $1.84
The Patterson 400 $1,439 $3.60 Riverwalk 486 $892 $1.84 Amazon Corner 716 $1,395 $1.95
The McKenzie at Crescent Village450 $964 $2.14 The McKenzie at Crescent Village450 $964 $2.14 The McKenzie at Crescent Village533 $1,058 $1.98
Amazon Corner 455 $1,010 $2.22 Amazon Corner 455 $1,010 $2.22 Amazon Corner 397 $822 $2.07
The Patterson 460 $1,469 $3.19 The McKenzie at Crescent Village533 $1,058 $1.98 The McKenzie at Crescent Village450 $964 $2.14
Amazon Corner 465 $1,087 $2.34 Amazon Corner 465 $1,087 $2.34 Amazon Corner 455 $1,010 $2.22
Riverwalk 486 $892 $1.84 Amazon Corner 505 $1,124 $2.23 Amazon Corner 505 $1,124 $2.23
Amazon Corner 505 $1,124 $2.23 Amazon Corner 716 $1,395 $1.95 Amazon Corner 465 $1,087 $2.34
The McKenzie at Crescent Village533 $1,058 $1.98 The Patterson 400 $1,439 $3.60 The Patterson 460 $1,469 $3.19
Amazon Corner 716 $1,395 $1.95 The Patterson 460 $1,469 $3.19 The Patterson 400 $1,439 $3.60
Average **471 $1,105 $2.35 Average **471 $1,105 $2.35 Average **471 $1,105 $2.35
1 Bed / 1 Bath S.F. Rent R.S.F. 1 Bed / 1 Bath S.F. Rent R.S.F. 1 Bed / 1 Bath S.F. Rent R.S.F.
The Patterson 540 $1,529 $2.83 Riverwalk 646 $1,024 $1.59 The Bailey at Amazon Creek 854 $1,188 $1.39
The Patterson 575 $1,564 $2.72 Heritage Meadow 728 $1,025 $1.41 Heritage Meadow 728 $1,025 $1.41
Riverwalk 602 $1,114 $1.85 Riverwalk 655 $1,038 $1.58 Ecco 726 $1,068 $1.47
Riverwalk 646 $1,024 $1.59 Ecco 726 $1,068 $1.47 The McKenzie at Crescent Village854 $1,289 $1.51
Amazon Corner 650 $1,472 $2.26 Ecco 681 $1,093 $1.60 The McKenzie at Crescent Village847 $1,279 $1.51
Riverwalk 655 $1,038 $1.58 Riverwalk 602 $1,114 $1.85 Amazon Corner 969 $1,469 $1.52
The Patterson 660 $1,619 $2.45 Riverwalk 672 $1,164 $1.73 The Tennyson at Crescent Village921 $1,440 $1.56
The Tennyson at Crescent Village663 $1,350 $2.04 The Bailey at Amazon Creek 854 $1,188 $1.39 Riverwalk 655 $1,038 $1.58
The Patterson 665 $1,619 $2.43 The McKenzie at Crescent Village847 $1,279 $1.51 Riverwalk 646 $1,024 $1.59
The Patterson 665 $1,629 $2.45 The McKenzie at Crescent Village854 $1,289 $1.51 Ecco 681 $1,093 $1.60
The Patterson 670 $1,639 $2.45 The Tennyson at Crescent Village663 $1,350 $2.04 Riverwalk 672 $1,164 $1.73
Riverwalk 672 $1,164 $1.73 The Tennyson at Crescent Village921 $1,440 $1.56 Riverwalk 602 $1,114 $1.85
Amazon Corner 677 $1,472 $2.17 Amazon Corner 969 $1,469 $1.52 The Tennyson at Crescent Village663 $1,350 $2.04
Ecco 681 $1,093 $1.60 Amazon Corner 650 $1,472 $2.26 Amazon Corner 811 $1,709 $2.11
The Patterson 700 $1,649 $2.36 Amazon Corner 677 $1,472 $2.17 Amazon Corner 677 $1,472 $2.17
Ecco 726 $1,068 $1.47 The Patterson 540 $1,529 $2.83 Amazon Corner 650 $1,472 $2.26
Sorted by Square Footage Sorted by Rent Sorted by Rent/S.F.
* Affordable Housing
** Excludes Affordable Housing
1
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SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Unit Mix
Name:Amazon Corner Eugene, OR
Address:747 E 32nd Ave, Eugene, OR 97405 Eugene
Phone:541-359-2953 4/22/2020
True Owner:Mike Coughlin No
Manager:Affinity Property Management B
Website:Click here A+
Estimated Unit Mix: Actual A+
Total Units:117 97%Stabilized 2019
Market Rate Units:117 $1,359 $1,359 $0
Area/Unit:653 $2.08 $2.08 0.0%
Levels:5
BD/FB/PB Area Qty Rent1 Rent2 Average $ PSF Rent1 Rent2 Average $ PSF $%
0/1/0 397 10 $822 $822 $822 $2.07 $822 $822 $822 $2.07
0/1/0 455 9 $1,010 $1,010 $1,010 $2.22 $1,010 $1,010 $1,010 $2.22
0/1/0 465 22 $1,087 $1,087 $1,087 $2.34 $1,087 $1,087 $1,087 $2.34
0/1/0 505 14 $1,124 $1,124 $1,124 $2.23 $1,124 $1,124 $1,124 $2.23
0/1/0 716 2 $1,395 $1,395 $1,395 $1.95 $1,395 $1,395 $1,395 $1.95
1/1/0 650 16 $1,472 $1,472 $1,472 $2.26 $1,472 $1,472 $1,472 $2.26
1/1/0 677 14 $1,472 $1,472 $1,472 $2.17 $1,472 $1,472 $1,472 $2.17
1/1/0 811 3 $1,709 $1,709 $1,709 $2.11 $1,709 $1,709 $1,709 $2.11
1/1/0 969 10 $1,469 $1,469 $1,469 $1.52 $1,469 $1,469 $1,469 $1.52
2/2/0 961 3 $1,875 $1,875 $1,875 $1.95 $1,875 $1,875 $1,875 $1.95
2/2/0 975 3 $1,826 $1,826 $1,826 $1.87 $1,826 $1,826 $1,826 $1.87
2/2/0 1,019 3 $2,035 $2,035 $2,035 $2.00 $2,035 $2,035 $2,035 $2.00
2/2/0 1,078 5 $2,275 $2,275 $2,275 $2.11 $2,275 $2,275 $2,275 $2.11
2/2/0 1,103 3 $2,242 $2,242 $2,242 $2.03 $2,242 $2,242 $2,242 $2.03
MSA Name:
Submarket Name:
Survey Date:
Daily Pricing:
Submarket Asset Grade:
Asset Grade in Submarket:
Asset Grade in Market:
Property Level Information
Occupancy:Status:Year Built:
Asking Rent/Unit:Effective Rent/Unit:Concession ($):
Asking Rent/SqFt:Effective Rent/SqFt:Concession (%):
Floor Plan Pricing Information
(1)Market Rent(2)Effective Rent(3)Conc. Values
1
UNIT MIX - AMAZON CORNER
Attachment 1, Page 14 of 20
15 OF 19PAGE:
SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Unit Mix
Name:Heritage Meadow Eugene, OR
Address:2459 Lakeview Dr, Eugene, OR 97408 Eugene
Phone:541-653-8287 4/2/2020
True Owner:Mountain West Investment Corporation No
Manager:Helio Property Management B
Website:Click here B
Estimated Unit Mix: Actual B
Total Units:173 99%Stabilized 2013
Market Rate Units:173 $1,227 $1,227 $0
Area/Unit:950 $1.29 $1.29 0.0%
Levels:3
BD/FB/PB Area Qty Rent1 Rent2 Average $ PSF Rent1 Rent2 Average $ PSF $%
1/1/0 728 44 $1,025 $1,025 $1,025 $1.41 $1,025 $1,025 $1,025 $1.41
2/2/0 952 65 $1,225 $1,225 $1,225 $1.29 $1,225 $1,225 $1,225 $1.29
2/2/0 1,029 38 $1,310 $1,310 $1,310 $1.27 $1,310 $1,310 $1,310 $1.27
3/2/0 1,204 26 $1,450 $1,450 $1,450 $1.20 $1,450 $1,450 $1,450 $1.20
BD/FB/PB Area Qty
1/1/0 728 44
2/2/0 952 65
2/2/0 1,029 38
3/2/0 1,204 26
MSA Name:
Submarket Name:
Survey Date:
Daily Pricing:
Submarket Asset Grade:
Asset Grade in Submarket:
Asset Grade in Market:
Property Level Information
Occupancy:Status:Year Built:
Asking Rent/Unit:Effective Rent/Unit:Concession ($):
Asking Rent/SqFt:Effective Rent/SqFt:Concession (%):
Floor Plan Pricing Information
(1)Market Rent(2)Effective Rent(3)Conc. Values
Floor Plan Concessions
(1)Month Free
Upfront
Dollar Off
Upfront1
Dollar Off
Upfront2
Month Free
Prorated
Dollar Off
Prorated
Dollar
Reduced 1
Dollar
Reduced 2
Leasing
Term Conc. Term
Note:
1
UNIT MIX - HERITAGE MEADOW
Attachment 1, Page 15 of 20
16 OF 19PAGE:
SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Unit Mix
Name:Riverwalk Eugene, OR
Address:470 Alexander Loop, Eugene, OR 97401 Eugene
Phone:541-357-4146 4/23/2020
True Owner:Green Leaf Partners No
Manager:Green Leaf Partners B
Website:Click here B+
Estimated Unit Mix: Estimated B+
Total Units:271 90%Stabilized 2014
Market Rate Units:271 $1,347 $1,286 $61
Area/Unit:925 $1.46 $1.39 4.5%
Levels:4
BD/FB/PB Area Qty Rent1 Rent2 Average $ PSF Rent1 Rent2 Average $ PSF $%
0/1/0 486 16 $973 $973 $973 $2.00 $892 $892 $892 $1.84 $81 8.3%
1/1/0 602 23 $1,114 $1,114 $1,114 $1.85 $1,114 $1,114 $1,114 $1.85
1/1/0 646 23 $1,117 $1,117 $1,117 $1.73 $1,024 $1,024 $1,024 $1.59 $93 8.3%
1/1/0 655 23 $1,132 $1,132 $1,132 $1.73 $1,038 $1,038 $1,038 $1.58 $94 8.3%
1/1/0 672 23 $1,164 $1,164 $1,164 $1.73 $1,164 $1,164 $1,164 $1.73
2/2/0 867 28 $1,342 $1,342 $1,342 $1.55 $1,230 $1,230 $1,230 $1.42 $112 8.3%
2/2/0 876 29 $1,222 $1,222 $1,222 $1.39 $1,222 $1,222 $1,222 $1.39
2/2/0 921 28 $1,291 $1,291 $1,291 $1.40 $1,291 $1,291 $1,291 $1.40
2/2/0 1,141 28 $1,568 $1,568 $1,568 $1.37 $1,568 $1,568 $1,568 $1.37
2/2/0 1,161 28 $1,636 $1,636 $1,636 $1.41 $1,500 $1,500 $1,500 $1.29 $136 8.3%
3/2/0 1,985 22 $2,113 $2,113 $2,113 $1.06 $1,937 $1,937 $1,937 $0.98 $176 8.3%
MSA Name:
Submarket Name:
Survey Date:
Daily Pricing:
Submarket Asset Grade:
Asset Grade in Submarket:
Asset Grade in Market:
Property Level Information
Occupancy:Status:Year Built:
Asking Rent/Unit:Effective Rent/Unit:Concession ($):
Asking Rent/SqFt:Effective Rent/SqFt:Concession (%):
Floor Plan Pricing Information
(1)Market Rent(2)Effective Rent(3)Conc. Values
Floor Plan Concessions
1
UNIT MIX - RIVERWALK
Attachment 1, Page 16 of 20
17 OF 19PAGE:
SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
COMPARATIVE MARKET ANALYSIS
Unit Mix
Name:Ecco Eugene, OR
Address:60 Hatton Ave, Eugene, OR 97404 Eugene
Phone:541-607-3226 4/3/2020
True Owner:Hamilton Zanze & Company No
Manager:Mission Rock Residential B
Website:Click here B
Estimated Unit Mix: Actual B
Total Units:192 94%Stabilized 2015
Market Rate Units:192 $1,243 $1,234 $9
Area/Unit:945 $1.32 $1.31 0.7%
Levels:3
BD/FB/PB Area Qty Rent1 Rent2 Average $ PSF Rent1 Rent2 Average $ PSF $%
1/1/0 681 36 $1,093 $1,093 $1,093 $1.60 $1,093 $1,093 $1,093 $1.60
1/1/0 726 36 $1,068 $1,068 $1,068 $1.47 $1,068 $1,068 $1,068 $1.47
2/2/0 938 30 $1,179 $1,179 $1,179 $1.26 $1,179 $1,179 $1,179 $1.26
2/2/0 1,022 30 $1,269 $1,269 $1,269 $1.24 $1,269 $1,269 $1,269 $1.24
3/2/0 1,185 30 $1,460 $1,460 $1,460 $1.23 $1,431 $1,431 $1,431 $1.21 $29 2.0%
3/2/0 1,215 30 $1,456 $1,456 $1,456 $1.20 $1,427 $1,427 $1,427 $1.17 $29 2.0%
BD/FB/PB Area Qty
1/1/0 681 36
1/1/0 726 36
2/2/0 938 30
MSA Name:
Submarket Name:
Survey Date:
Daily Pricing:
Submarket Asset Grade:
Asset Grade in Submarket:
Asset Grade in Market:
Property Level Information
Occupancy:Status:Year Built:
Asking Rent/Unit:Effective Rent/Unit:Concession ($):
Asking Rent/SqFt:Effective Rent/SqFt:Concession (%):
Floor Plan Pricing Information
(1)Market Rent(2)Effective Rent(3)Conc. Values
Floor Plan Concessions
(1)Month Free
Upfront
Dollar Off
Upfront1
Dollar Off
Upfront2
Month Free
Prorated
Dollar Off
Prorated
Dollar
Reduced 1
Dollar
Reduced 2
Leasing
Term Conc. Term
1
UNIT MIX - ECCO
Attachment 1, Page 17 of 20
18 OF 19PAGE:
SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
FINANCIAL ANALYSIS Development Costs | SPRINGFIELD MOTORS STANDARD TOTAL STANDARD GAP
Land & Acquisition 673,500.00$ 623,500.00$
Land & Related 600,000.00$
Closing Costs 23,500.00$
Due Diligence Consultants 50,000.00$ SEDA (50,000.00)$
-$
Soft Costs 2,512,740.07$ 2,512,740.07$
Legal Fees 70,000.00$
Development Management Fees 840,400.00$
Insurance 60,000.00$
Other General & Administrative 60,000.00$
Architecture & Consultant 1,081,458.00$
Soft Cost Contingency 50,000.00$
Special Inspections 30,000.00$
Working Capital Contribution / Pre-marketing 30,000.00$
Development Charges & Municipal Costs 1,471,533.88$ 1,006,694.52$
RESIDENTIAL - City Sanitary Sewer 290,882.07$ SEDA (290,882.07)$
RESIDENTIAL - Local Transportation 164,750.93$ SEDA (164,750.93)$
RESIDENTIAL - Regional Sanitary Sewer 128,141.08$ 128,141.08$
RESIDENTIAL - SDCs Fees 29,188.70$ SEDA 6,407.05$
COMMERCIAL - City Sanitary Sewer 3,053.88$ SEDA (3,053.88)$
COMMERCIAL - Local Transportation (16,781.86)$ SEDA (16,781.86)$
COMMERCIAL - Regional Sanitary Sewer 25,137.51$ 25,137.51$
COMMERCIAL - SDCs Fees 1,409.57$ SEDA 1,256.88$
RESIDENTIAL - Willamalane Parks 303,660.00$ 303,660.00$
SUB ELECTRIC 100,000.00$ 100,000.00$
SUB WATER 2" SERVICE 16,741.00$ 16,741.00$
SUB WATER 6' FIRE LINE 7,500.00$ 7,500.00$
SUB WATER SERVICE CREDIT (2,349.00)$ (2,349.00)$
Building Permits 420,200.00$ 420,200.00$
Hard Costs 21,010,000.00$ 21,010,000.00$
Hard Cost Construction 253.42$ 18,500,000.00$
Contingency 5.0% 925,000.00$
Parking 100,000.00$
Tenant improvements 150,000.00$
FFE 410,000.00$
Escalation 5%925,000.00$
Financing Expense 1,517,000.00$ 1,517,000.00$
Construction Loan Interest 670,000.00$
Additional Interest Reserve 400,000.00$
Debt Financing Fee 300,000.00$
Equity Financing Fee 90,000.00$
-$
Development Period Property Taxes 4,000.00$
Construction Loan Closing Fees & Appraisal 95,000.00$
Bank Construction Inspector 24,000.00$
cable access credit (21,000.00)$
Oregon Energy Trust incentives (45,000.00)$
TRUE COST COST LESS SEDA
Total Development period costs 27,184,773.95$ 26,666,969.14$
GAP GRANT GOAL
SEDA SDC payment program 517,804.81$
GAP Development period 4,835,397.48$ 21,831,571.66$
Total requested GAP 5,353,202.29$
Vertical housing abatement for 8 years after construction $210,000/YEAR 1,680,000.00$
GAP +Vertical housing 7,033,202.29$
Current tax revenue 1,693.46$
Attachment 1, Page 18 of 20
19 OF 19PAGE:
SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
FINANCIAL ANALYSIS
PROJECT INFORMATION PROJECT COSTS
Site Area 11,748 Land & Acquisition Cost $673,500
Gross Building Area (w/o parking)73,000 Total Hard Costs $21,010,000
SF Leasable Residential 54,425 Total Soft Costs $2,512,740
SF leasable commercial 5,000 Development and Municipal charges $1,471,534
Efficiency 81% Financing Costs $1,517,000
TOTAL DEVELOPMENT COSTS $27,184,774
UNIT INFORMATION PROJECT LOAN AMOUNT
Av Size - SF 498000 Monthly Units
Total Development Cost $27,184,774
Two Bedroom 776 $1.90 $1,474 28
Loan To Cost 66.0%
Three Bedroom 1,100 $1.90 $2,090 7
Senior Debit 66% $17,934,774
One Bedroom 510 $2.16 $1,100 49 Debt Yield 5.9%
Commercial 5,000 $1.50 $7,500 2 Round 1 Equity 15% $4,000,000
Springfield GAP Grant W/TIF 19.3% $5,250,000
TOTAL UNIT DATA 648 2.02$ 86
Assumptions Construction Loan Interest Rate 5.00%
Parking Surface $50 109 Permanent Loan Interest Rate 4.00%
Small Storage $55 20 Stabilized DSCR 1.28
OPERATING PRO FORMA Total Partnership Equity+ grant $9,250,000
(+) Apartment Lease Income $1,317,758.40
(+) Parking Income $65,400.00 DISPOSITION METRICS
(+) Storage Income $13,200.00 Rent Escalation Assumption 3%
(+) Utility Recovery $55 $56,760.00 Costs Escalation Assumption 2%
(-) Vacancy - Housing 8%-$105,420.67
(+)Commercial $90,000.00 Cap Rate 5.25%
(-)Commercial Vacancy 20%-$18,000.00 Sales Expense 2.00%
TOTAL %/Unit $1,419,697.73 YR 1 $404,464
(-) Garbage 0.7%120 $10,080.00 YR10 $571,429
(-) Management Fee 3.00%495 $42,590.93
(-) Insurance 2.1%343 $29,500.00 Estimated cash flow 10 yrs 3,300,000.00
(-) Property Taxes 2.3%378 $32,520.00
(-) Electric 2.1%350 $29,400.00 VALUE
(-) Marketing & Advertising 1.4%233 $20,000.00 Value at yr 1 5.25% 20,223,188$
(-) Turnover Costs 0.5%84 $7,200.00
(-) Repairs & Maintenance 1.5%248 $21,295.47 Value at year 10 5.25% 28,571,428.57$
(-) Administration 2.1%349 $30,000.00
(-) Reserves 2.0%330 $28,393.95
(-) Payroll 6.0%988.37 $85,000.00
(-) Water & Sewer 1.5%256 $22,000.00
TOTAL OPERATING COSTS 25.2% $357,980.35
NET OPERATING INCOME yr 1 $1,061,717.38
Projected NOI year 10 1,500,000.00$
SPRINGFIELD MOTORS | Pro-Forma Input
Attachment 1, Page 19 of 20
20 OF 19PAGE:
SPRINGFIELD MOTORS
MIXED USE MASS TIMBER DEVELOPMENT
DATE: 10/19/2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
DESIGN BUILD
SPRINGFIELD MOTORS
DEVELOPMENT REPORT - OCTOBER 2020
702 NORTH A STREET, SPRINGFIELD, OR 97477
Attachment 1, Page 20 of 20
M E M O R A N D U M Springfield Economic Development Agency
Date: 7/6/2020
To: Nancy Newton, City Manager COMMUNICATION
From: Courtney Griesel, Economic Development PACKET
Subject: Scherer Development Update MEMORANDUM
INFORMATION SHARE:
This communication packet is intended to provide an update on progress to date with a primary focus on outcomes
of the architectural massing studies and potential sequencing of site development. No SEDA Board action is
required at this time. During the March 9, 2020 Springfield Economic Development Agency (SEDA) meeting, the
Board took action to financially support initial feasibility work by Northwest Sustainable Properties LLC (NWSP)
and the Scherer Family on the Downtown Springfield Motors site located at 702 A Street. The total amount allocated
by SEDA was $85,000 and was provided to fund initial site assessment and feasibility pertaining to a mixed-use
commercial and residential development.
A high level update on status of tasks is reflected below.
PROGRESS TASK
Complete (6/1) Development Code Review and Evaluation
Complete (6/27)
Attached for Information
Architectural Massing Studies for New Midrise Building
In Progress Cost Assessment for Entire Site Development; New Building
and Adaptive Reuse of Existing
Economic Feasibility Assessment of Project
In Progress Environmental Assessment (ESA) Phase II
Site Specific Market Impacts Related to Current Health and Social Factors
The March 2020 commitment by the SEDA Board was made on the eve of the COVID-19 event. While awareness
of the virus was widespread, understanding of the potential impacts of a pandemic was unknown, with long-term
impacts still yet to be seen fully. Coupled with the recent civic conversations and peaceful and non-peaceful protests,
the NWSP approach has been adjusted to prioritize greater consideration for areas of investor and consumer
confidence. This additional market testing includes;
‐ One-on-one conversations with business leaders/employers
‐ Housing provider conversations; developers and listing entities
‐ Discussions with Opportunity Zone investors
These conversations have provided confidence that the project’s direct proximity to economic activity and
population density will show the residential product in the Springfield market is demanded. Additionally, NWSP
believes the population residing in Eugene, along with other larger metro areas, may soon find themselves more
confident in less dense areas that also boast high quality connectivity, access to activity, and healthy new buildings.
While these trends may exist for residential, these assumptions may not be the case for substantial amounts of new
commercial product.
Attachment 2, Page 1 of 19
Summary of Code Review and Analysis
During April and May, with multiple site visits, detailed analysis, and meetings with Springfield staff, NWSP
completed a code review and summary as well as engineers report. Based on this review, and considering the context
of the above stated market uncertainties, the developer remains confident in the Springfield market and community.
Variables of note related to site-specific Springfield Development Code review:
‐ Shading requirements may drive shape and location of new building. Shading code requirements will shape
the location and size of new construction, limiting the tallest building to the smaller, undeveloped lot located
mid-block along A Street, unless the ‘Buick’ building was slated for removal. Removal of the ‘Buick’
building is not preferred by the developer.
‐ Market may not be ready for new ground-floor commercial at the location. Code required ground floor
commercial poses risk based on market demand issues which existed prior to COVID19 and increasing
uncertainty of the commercial market post COVID19.
‐ Parking will become an issue. Parking requirements of zero within development code do not remove
financial requirement for parking the site at 0.6 to 1.0 space per unit.
Summary of Architectural Massing Studies
Utilizing completed code analysis and market discussion, NWSP has completed 4 massing and phasing options for
additional assessment. All options assume adaptive reuse of the existing ‘Buick’ building as a possible food and
beverage destination. Massing scenarios are summarized below and included as Attachment 1.
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Phase and
Location
Phase I:
South MidBlock
Phase I:
South MidBlock
Phase I MassTimber:
South MidBlock
Phase I:
North Block B Street
Building
Floors
5 Stories:
4 over 1
7 Stories:
6 over 1
8 Stories:
7 over 1
2 Bldings/5 Stories:
4 over 1
Commercial 3,300 SF Commercial 3,300 SF Commercial 2,300 SF Commercial 6,800 SF Commercial
Residential 48 Residential Units:
510SF to 780SF per
72 Residential Units:
510SF to 780SF per
84 Residential Units:
510SF to 780SF per
84~ Residential Units:
510SF to 840SF per
Parking 114 Surface Parking
Spaces at Rear
114 Surface Parking
Spaces at Rear
114 Surface Parking
Spaces at Rear
84 Surface Parking
Spaces at Rear
Variables of note related to site-specific massing strategies:
‐ Mass Timber Option. Option 3 offers a development concept which would utilize mass timber, including
cross-laminated timber panels (or a similar product) and glulam beams, allowing the building to increase in
height and possibly increase in commanded leases.
‐ Parking. All options must include parking in Phase I. As part of a future Phase II development, parking
infrastructure discussions will become critical.
‐ Ground Floor Commercial. Commercial space is limited to minimum allowed in all scenarios and risk would
be decreased if commercial massing was allowed to be bundled in one area of the site.
‐ Iconic ‘Buick’ Building. In all scenarios currently modeled, the existing ‘Buick’ building remains and is
redeveloped for a destination food and beverage use.
Next Steps
Over the coming weeks and months, additional assessment will include;
Construction Type and Cost Analysis
Environmental Study; Phase II Completion
Proforma Analysis
Financial Feasibility including Opportunity Fund Engagement
This information is provided as a progress update and no SEDA Board action is required at this time.
Attachment 2, Page 2 of 19
A S T R E E T
B S R E E T
7TH STREET
8TH STREET
SPRINGFIELD FEASIBILITY
702 N. A Street, Springfield, OR 97477
EXISTING CONDITIONS
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.25
1SOUTHWEST AXON
EXISTING FLOOR AREA
Level Name Area
Not Placed BARN Not Placed
Not Placed BARN ATTIC Not Placed
0 SF
1ST FLOOR BATHROOM 165 SF
1ST FLOOR BATHROOMS 71 SF
1ST FLOOR GARAGE 1 4,613 SF
1ST FLOOR GARAGE 2 492 SF
1ST FLOOR GARAGE 3 913 SF
1ST FLOOR MECH.82 SF
1ST FLOOR OFFICE / STORAGE 824 SF
1ST FLOOR SHOWROOM 884 SF
8,042 SF
2ND FLOOR OFFICES 313 SF
2ND FLOOR STORAGE 679 SF
992 SF
Grand total 9,034 SF
1ST FLOOR
2ND FLOOR
950 SF
950 SF
Attachment 2, Page 3 of 19
A STREET
B STREET
C STREET
MAIN STREET7TH STREET8TH STREET6TH STREET9TH STREETEXISTING
9,9034 SF
BUILDING
EXISTING
950 SF GARAGE
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.25
1" = 100'-0"1EXISTING - SITE PLANAttachment 2, Page 4 of 19
OPEN TO BELOW
OPEN TO BELOW
OPEN TO BELOW
OPEN TO BELOW
313 SF
OFFICES
679 SF
STORAGE
913 SF
GARAGE 3
4,613 SF
GARAGE 1
492 SF
GARAGE 2
165 SF
BATHROOM
71 SF
BATHROOMS 824 SF
OFFICE /
STORAGE
82 SF
MECH.
884 SF
SHOWROOM
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.25
1/16" = 1'-0"2EXISTING 2ND FLOOR AREA PLAN
1/16" = 1'-0"1EXISTING 1ST FLOOR AREA PLAN
Attachment 2, Page 5 of 19
4 STORIES TYPE VA: 36,560 SF
1 STORY TYPE 1A: 10,800 SF
48 RESIDENTIAL UNITS
47,360 SF TOTAL BUILT SF
31,100 SF RESIDENTIAL LEASABLE
3,300 SF COMMERCIAL LEASABLE
12,960 SF COMMON AREA / CIRCULATION
SPRINGFIELD FEASIBILITY -MASSING OPTION #1
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.25
1AMASSING - OPTION 1
Attachment 2, Page 6 of 19
6,340 SF
MEP / TRASH /
BIKE / STORAGE
90 SF
ELEV
200 SF
STAIR
460 SF
LOBBY
200 SF
STAIR
10 STREET CAR PARKING SPACES
8 STREET CAR PARKING SPACES 4 STREET CAR PARKING SPACES5 STREET CAR PARKING SPACES9 STREET CAR PARKING SPACES
10 STREET CAR PARKING SPACES
5 STREET CAR PARKING SPACES8 STREET CAR PARKING SPACES59 STREET CAR PARKING SPACES
55 PRIVATE CAR PARKING SPACES
114 TOTAL PARKING SPACES
48 UNITS; 2.38 TOTAL PARKING RATIO
4 STORIES TYPE VA
1 STORY TYPE 1A
10,800 SF (NEW) + 8,000 SF (E) =
18,800 SF TOTAL GROUND FLOOR AREA
60% COMMERCIAL REQUIRED
= 11,280 SF MIN COMMERCIAL SPACE
55 PRIVATE CAR PARKING SPACES
3,300 SF
COMMERCIAL
210 SF
CORRIDOR
EXISTING BUILDING
8,000 SF GROUND FLOOR
COMMERCIAL
92' - 6"117' - 9"24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251" = 40'-0"1B1ST FLOOR AREA PLAN - OPTION 1
Attachment 2, Page 7 of 19
1,100 SF
3 BEDROOM
765 SF
2 BEDROOM
200 SF
STAIR
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
780 SF
2 BEDROOM
780 SF
2 BEDROOM
780 SF
2 BEDROOM
595 SF
CORRIDOR
90 SF
ELEVATOR
200 SF
STAIR
280 SF
AMENITY
9,140 TOTAL SF PER FLOOR
12 UNITS PER FLOOR
48 UNITS ON 4 FLOORS:
7*4 = 28 ONE BEDROOM UNITS
4*4 = 16 TWO BEDROOM UNITS
1*4 = 4 THREE BEDROOM UNITS
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251/32" = 1'-0"1C2ND - 5TH FLOOR AREA PLAN - OPTION 1
Attachment 2, Page 8 of 19
6 STORIES TYPE IIIA: 54,840 SF
1 STORY TYPE 1A: 10,800 SF
72 RESIDENTIAL UNITS
65,640 SF TOTAL BUILT SF
46,650 SF RESIDENTIAL LEASABLE
3,300 SF COMMERCIAL LEASABLE
15,690 SF COMMON AREA / CIRCULATION
SPRINGFIELD FEASIBILITY -MASSING OPTION #2
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.25
2AMASSING - OPTION 2
Attachment 2, Page 9 of 19
6,340 SF
MEP / TRASH /
BIKE / STORAGE
90 SF
ELEV
200 SF
STAIR
460 SF
LOBBY
200 SF
STAIR
10 STREET CAR PARKING SPACES
8 STREET CAR PARKING SPACES 4 STREET CAR PARKING SPACES5 STREET CAR PARKING SPACES9 STREET CAR PARKING SPACES
10 STREET CAR PARKING SPACES
5 STREET CAR PARKING SPACES8 STREET CAR PARKING SPACES55 PRIVATE CAR PARKING SPACES
3,300 SF
COMMERCIAL
210 SF
CORRIDOR
EXISTING BUILDING
8,000 SF GROUND FLOOR
COMMERCIAL
92' - 6"117' - 9"59 STREET CAR PARKING SPACES
55 PRIVATE CAR PARKING SPACES
114 TOTAL PARKING SPACES
72 UNITS; 1.58 TOTAL PARKING RATIO
6 STORIES TYPE IIIA
1 STORY TYPE 1A
10,800 SF (NEW) + 8,000 SF (E) =
18,800 SF TOTAL GROUND FLOOR AREA
60% COMMERCIAL REQUIRED
= 11,280 SF MIN COMMERCIAL SPACE
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251" = 40'-0"2B1ST FLOOR AREA PLAN - OPTION 2
Attachment 2, Page 10 of 19
1,100 SF
3 BEDROOM
765 SF
2 BEDROOM
200 SF
STAIR
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
780 SF
2 BEDROOM
780 SF
2 BEDROOM
780 SF
2 BEDROOM
595 SF
CORRIDOR
90 SF
ELEVATOR
200 SF
STAIR
280 SF
AMENITY
9,140 TOTAL SF PER FLOOR
12 UNITS PER FLOOR
72 UNITS ON 6 FLOORS:
7*6 = 42 ONE BEDROOM UNITS
4*6 = 24 TWO BEDROOM UNITS
1*6 = 6 THREE BEDROOM UNITS
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251/32" = 1'-0"2C2ND - 5TH FLOOR AREA PLAN - OPTION 2
Attachment 2, Page 11 of 19
7 STORIES TYPE IV-C: 63,980 SF
1 STORY TYPE IV-C: 9,020 SF
(MASS TIMBER CONSTRUCTION)
84 RESIDENTIAL UNITS
73,000 SF TOTAL BUILT SF
54,425 SF RESIDENTIAL LEASABLE
2,300 SF COMMERCIAL LEASABLE
16,275 SF COMMON AREA / CIRCULATION
SPRINGFIELD FEASIBILITY -MASSING OPTION #3
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.25
3AMASSING - OPTION 3
Attachment 2, Page 12 of 19
10 STREET CAR PARKING SPACES
8 STREET CAR PARKING SPACES 4 STREET CAR PARKING SPACES5 STREET CAR PARKING SPACES9 STREET CAR PARKING SPACES
10 STREET CAR PARKING SPACES
5 STREET CAR PARKING SPACES8 STREET CAR PARKING SPACES59 STREET CAR PARKING SPACES
55 PRIVATE CAR PARKING SPACES
114 TOTAL PARKING SPACES
48 UNITS; 2.38 TOTAL PARKING RATIO
8 STORIES TYPE IV-C
9,020 SF (NEW) + 8,000 SF (E) =
17,020 SF TOTAL GROUND FLOOR AREA
60% COMMERCIAL REQUIRED
= 10,212 SF MIN COMMERCIAL SPACE
55 PRIVATE CAR PARKING SPACES
EXISTING BUILDING
8,000 SF GROUND FLOOR
COMMERCIAL
80' - 6"117' - 9"200 SF
STAIR
210 SF
CORRIDOR
5,560 SF
MEP / TRASH /
BIKE / STORAGE
2,300 SF
COMMERCIAL
460 SF
LOBBY
90 SF
ELEV
200 SF
STAIR
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251" = 40'-0"3B1ST FLOOR AREA PLAN - OPTION 3
Attachment 2, Page 13 of 19
1,100 SF
3 BEDROOM
765 SF
2 BEDROOM
200 SF
STAIR
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
780 SF
2 BEDROOM
780 SF
2 BEDROOM
780 SF
2 BEDROOM
595 SF
CORRIDOR
90 SF
ELEVATOR
200 SF
STAIR
280 SF
AMENITY
9,140 TOTAL SF PER FLOOR
12 UNITS PER FLOOR
84 UNITS ON 7 FLOORS:
7*7 = 49 ONE BEDROOM UNITS
4*7 = 28 TWO BEDROOM UNITS
1*7 = 7 THREE BEDROOM UNITS
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251/32" = 1'-0"3C2ND - 8TH FLOOR AREA PLAN - OPTION 3
Attachment 2, Page 14 of 19
4 STORIES TYPE VA: 61,690 SF
1 STORY TYPE IA: 15,910 SF
84 RESIDENTIAL UNITS
77,600 SF TOTAL BUILT SF
53,475 SF RESIDENTIAL LEASABLE
6,800 SF COMMERCIAL LEASABLE
12,085 SF COMMON AREA / CIRCULATION
5,240 SF ROOF DECK AREA
SPRINGFIELD FEASIBILITY -MASSING OPTION #4
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.25
4AMASSING - OPTION 4
Attachment 2, Page 15 of 19
EXISTING BUILDING
8,000 SF GROUND FLOOR
COMMERCIAL
10 STREET CAR PARKING SPACES
8 STREET CAR PARKING SPACES 4 STREET CAR PARKING SPACES5 STREET CAR PARKING SPACES9 STREET CAR PARKING SPACES
10 STREET CAR PARKING SPACES
5 STREET CAR PARKING SPACES8 STREET CAR PARKING SPACES59 STREET CAR PARKING SPACES
25 PRIVATE CAR PARKING SPACES
84 TOTAL PARKING SPACES
84 UNITS; 1.00 TOTAL PARKING RATIO
58 ONE BEDROOM UNITS
22 TWO BEDROOM UNITS
4 THREE BEDROOM UNITS
4 STORIES TYPE VA
1 STORY TYPE 1A
15,910 SF (NEW) + 8,000 SF (E) =
23,910 SF TOTAL GROUND FLOOR AREA
60% COMMERCIAL REQUIRED
= 14,346 SF MIN COMMERCIAL SPACE25 PRIVATE CAR PARKING SPACES
6,800 SF
COMMERCIAL
600 SF
LOBBY
200 SF
STAIR
90 SF
ELEV
2,170 SF
MEP / TRASH /
BIKE / STORAGE
200 SF
STAIR
540 SF
1 BEDROOM
540 SF
1 BEDROOM
540 SF
1 BEDROOM
540 SF
1 BEDROOM
540 SF
1 BEDROOM
1,050 SF
3 BEDROOM
535 SF
1 BEDROOM
540 SF
1 BEDROOM
840 SF
2 BEDROOM
185 SF
CORRIDOR
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251" = 40'-0"4B1ST FLOOR AREA PLAN - OPTION 4
Attachment 2, Page 16 of 19
510 SF
1 BEDROOM
1,190 SF
3 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
855 SF
2 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
840 SF
2 BEDROOM
450 SF
1 BEDROOM
800 SF
2 BEDROOM
1,020 SF
2 BEDROOM
1,250 SF
CORRIDOR510 SF
1 BEDROOM
420 SF
AMENITY
90 SF
ELEV
200 SF
STAIR
800 SF
2 BEDROOM
450 SF
1 BEDROOM
840 SF
2 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
200 SF
STAIR
32,070 TOTAL SF PER FLOOR
22 UNITS PER FLOOR
15 ONE BEDROOM UNITS
6 TWO BEDROOM UNITS
1 THREE BEDROOM UNITS
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251/32" = 1'-0"4C2ND - 3RD FLOOR AREA PLAN - OPTION 4
Attachment 2, Page 17 of 19
900 SF
3 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
600 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
840 SF
2 BEDROOM
450 SF
1 BEDROOM
800 SF
2 BEDROOM
1,020 SF
2 BEDROOM
1,250 SF
CORRIDOR510 SF
1 BEDROOM
420 SF
AMENITY
90 SF
ELEV
200 SF
STAIR
800 SF
2 BEDROOM
450 SF
1 BEDROOM
840 SF
2 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
200 SF
STAIR
2,720 SF
ROOF DECK
AREA 16,170 TOTAL SF PER FLOOR
18 UNITS PER FLOOR
12 ONE BEDROOM UNITS
5 TWO BEDROOM UNITS
1 THREE BEDROOM UNITS
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251/32" = 1'-0"4D4TH FLOOR AREA PLAN - OPTION 4
Attachment 2, Page 18 of 19
2,520 SF
ROOF DECK
AREA
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
840 SF
2 BEDROOM
450 SF
1 BEDROOM
800 SF
2 BEDROOM
1,020 SF
2 BEDROOM
1,250 SF
CORRIDOR510 SF
1 BEDROOM
420 SF
AMENITY
90 SF
ELEV
200 SF
STAIR
800 SF
2 BEDROOM
450 SF
1 BEDROOM
840 SF
2 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
510 SF
1 BEDROOM
200 SF
STAIR
13,450 TOTAL SF
14 UNITS
9 ONE BEDROOM UNITS
5 TWO BEDROOM UNITS
0 THREE BEDROOM UNITS
24O SE 2nd Ave, Portland Oregon 97217 503.230.2337 tel www.siteworksportland.com lic/bond/ins CCB#113920 WA SITEWDB880JW CA 982952SPRINGFIELD FEASIBLITY
702 N. A STREET
Springfield, OR 97477
2020.06.251/32" = 1'-0"4E5TH FLOOR AREA PLAN - OPTION 4
Attachment 2, Page 19 of 19
Jean-Pierre Veillet is an artist, designer, and entrepreneur who has taken his life long knowledge of the
built environment and combined it with his creative training to make the community a studio. Jean-
Pierre’s projects have become specific expressions of his clients unique identity through the use of
materiality, presence, proportion and a strong sense of space that promotes social interaction in and
around the projects. Jean-Pierre believes that the most successful projects are those full of community
and life, and he does not subscribe to any one idea or design style. Jean-Pierre’s projects over the past
24 years have each successfully represented the inspiration and vision behind them.
Owner / Founder / Developer | Portland, OR | Jan 2008 - Present | nws-properties.com
Owner / Founder / Designer | Portland, OR | Jan 1994 - Present | siteworksportland.com
Board of Trustee | Portland, OR | Oct. 2012 - 2018 | pnca.com
• Chair Board Development Committee
• Chair Campus Master Plan
• Presidential Search Committee
Former Advisor | Portland, OR | Oct 2016 - Feb 2018 | blokable.com
President | Mt.Hood, OR | Jan 2014 - Present | meadowsraceteam.org
Siteworks Design | Build specializes in place making that elevates the values of brands, neighborhoods,
and communities. Siteworks’ in-house collaborative studio and on-site management and development team
are experienced in the process of collaborative design and execution. Our knowledge of manifesting what
we design ensures value and confidence from the initial stages. Our skilled execution during construction,
and efficient project time lines throughout the process ensure success in vision. Siteworks’ team makes
it possible to effectively integrate all elements of a project while maintaining clear, collaborative lines of
communication.
Jean-Pierre Veillet has 25 years of experience in the Portland market. Trained locally as a sculptor, Veillet
takes a spatially informed, socially conscious, thoughtful approach to projects from tiny retail concepts
to ground-up developments. His firm, Northwest Sustainable Properties integrates his background in
the site-specific art and real world constructability to focus on the intimacy that can be created between
people and their environments, Veillet’s work is committed to the possibilities of community building
at larger scales. Veillet has a track record of innovative projects that weave into the fabric of their
surroundings while coming packed with the possibilities of change. He has executed the first net-zero
piloted apartments in the country, Portland’s first Food Hall, and Oregon’s own mid-century auto museum.
It is Veillet’s goal to continue to create buildings in that energize neighborhoods and the community at
large.
Starting at PNCA in children’s classes in the 70’s while my mother completed her degree, I would grow
up at the knee of Portland’s founding artists. Mike Russo, Jack Portland, and Manuel Izquierdo all were
there until I went to complete my BFA at PNCA. I taught for the following 8 years before Siteworks took
over my time. I then started the Siteworks Outstanding Artist Scholarship. Now after a lifetime at the art
school my position on the board helps to shape the future of PNCA.
Innovative modular building start up company ready to reinvent the way we construct communities through
rapid deployment of well designed housing.
Realizing the benefits of the life lessons learned as a ski racer, Jean-Pierre has become the President of
the Meadows Race Team. In 2018, MRT sent Asa Miller and a coach to the Olympics. It is a team of 170
kids from from ages 6-19.
EDUCATION
Pacific Northwest College of Art
Bachelor of Fine Arts in Sculpture.
Portland, OR. 1997
JEAN-PIERRE VEILLET
EXPERIENCE
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportlandAttachment 3, Page 1 of 8
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportland
JEAN-PIERRE VEILLET
In an effort to distribute energy conservation affordably, Ecoflats maximizes
photo-voltaic and solar thermal energy generation and relies on orientation,
natural ventilation, access to light and air, and day lighting to harness state-of-
the-art technology bolstered by both common sense and old-world knowledge.
Individual screens in the lobby display each unit’s energy consumption, providing
extra incentive for individual environmental responsibility. The project has been
recognized by Portland Monthly, The New York Times, Portland Business
Journal, and NPR Multi-family news. Siteworks was able to secure funding
and incentives through BETC tax credits, PDC Gap financing, and the Oregon
Energy Trust. Jean-Pierre received a 10 year award for energy conservation
from Oregon Energy Trust for his continued pioneering work in this field.
3951 N Williams Ave. Portland, OR | SF 20,000
Duration 18 months (By Siteworks Design-Build) Jan 2008-2009
126 SW 2nd Ave. Portland, OR | SF 30,000
Duration 18 months (By Siteworks Design-Build) 2014- Sept 2015
Pine Street Market is a world class Food Hall and culinary marketplace
located in Downtown Portland, Oregon. Located in the historic
Baggage and Carriage Building just blocks from Portland’s waterfront,
Pine Street Market features an open floor plan with common seating
surrounded by nine restaurants featuring the top chefs and restaurant
operators in the city. A tech office tenant is in the 20,000 SF of office
above.
ecoflats
www.ecoflats.com
pine street market
www.pinestreetpdx.com
ENERGY CONSERVATION: Passive ventilation, Exterior common
areas, Bike friendly transit orientation.
COMMUNITY: Family size apartments, good school district, large play
areas, landscape and bio remediation, embraced by neighborhood.
ACHIEVEMENTS SO FAR: Salmon safe, Oregon Energy Trust,
2018 CRE Transformer Award.
AMENITIES: Large outdoor play areas, Large covered upper floor
common areas, and View to the west.
Sunshine portland apartments
Portland, OR | SF 90,000 all four apartments combined | 3610 SE 29th Ave. Portland, OR 97202 | Coming Soon December 2018
selected works
Attachment 3, Page 2 of 8
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportland
JEAN-PIERRE VEILLET
The World of Speed started as our clients life long dream and vision to share an inspirational story
about Northwest Motorsports and the moxie and moonshot of those in that era. The property
selected bore none of those traits, but its location was perfect. Jean-Pierre was inspired by the
vision and began the transformation never losing site of the goal. The project was to transform an
80,000 square foot 1980’s concrete tilt-up into the vision held for the World of Speed. Jean-Pierre
successfully captured the narrative of midcentury motorsports through interactive displays, artful
structural upgrades, mid-century glazing techniques, and a GT 350 stripe super graphic. After 2
years in design and construction, World of Speed finished ahead of schedule with happy clients
and a friendship made to last a life time.
The World of Speed museum is a mid-century modern time capsule that celebrates the history
and global significance of Northwest and American motorsports in a fun and educational setting
for all ages.
The Bridgetown is a 50-Unit eco-friendly apartment building in the Beaumont
Village neighborhood of North East Portland. With more than 6,000 square feet
of high-visibility interactive retail space, including a purpose-built restaurant
space, the project is a key-contributor to the urban fabric in an already vibrant
neighborhood. An activated entry courtyard is shared between the retailers and
the building’s residents, creating a two way dialogue between the building and
the neighborhood. With support from the Energy Trust of Oregon, the building
has been designed as a low energy consumer.
world of speed
www.worldofspeed.org
the bridgetown
https://www.thebridgetownpdx.com/
27490 SW 95th Ave. Wilsonville, OR | SF 85,000 + 2 Acres | Duration 24 months (Design-Build) 2013-March 2015
4525 NE Fremont St. Portland, OR 97213 | SF 32,000 | (Design-Build) October 2017
selected works
Attachment 3, Page 3 of 8
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportland
JEAN-PIERRE VEILLET
The concept was to design a modern Northwest experience for the Hilton Portland traveler. The design’s materiality uses regional materials and tones
create a big Northwest feel meeting the Hilton traveler’s expectations. Rough and refined relationships of materials, along with access to light and air,
create comfort and accessibility for a memorable dining experience. Relocating the bar and directly connecting the restaurant with the lobby, creates
a focal point for the space, dramatically increases sales, and provides a more seamless, invigorating entrance.
hilton eugene
hilton.com
Hopcity tavern + Market
hilton.com
breweries
66 E 6th Ave, Eugene, OR 97401 | Completed (Design-Build) 2018
921 SW 6th Ave, Portland, OR 97204 | Completed (Design-Build) 2014
(Design-Build) 2009 - present
selected works
Attachment 3, Page 4 of 8
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportland
JEAN-PIERRE VEILLET
altsource, Inc
altsrc.net
1120 SE Madison. Portland, OR | SF 60,000
Duration 15 months (Design-Build) Sept. 2018
The new home grown high-tech headquarters for Portland’s own Alt
source. The complete restoration of this historic building and contrasting
modern addition will support great jobs in Portland’s central east side.
The architecture opens the building up to the great out doors and views
to the west and North. Amenities include gym, lounges, exterior roof
top patio, exterior conference rooms, commercial kitchen with dining
hall. The project is built to inspire its occupants and will be retro fitted
with the latest technology and furnished with relaxed comfort.
The Youth Music Project is a completely transformed old church and landscape
into a music hall and school that continues to inspire children for generations.
The facility encourages performance with its state-of-the-art stage, and the
exterior addition connects students safely to the building. Custom made
stained glass windows that feature rock and roll idols, light interior rooms with
color and inspiration.
To make a major brand statement, popular street food outlet Koi Fusion
teamed with Siteworks to envision a tangible form. The Koi-Ship transforms
an underutilized corner on West Burnside into a Portland place and exhibition
space for the city’s heart and spirit. The Koi-Ship vision is visually striking, made
of a billboard light sculpture. This Times Square approach not only creates
revenue, it affords an artistic solution to the urban billboard debate. The second-
story bar with a giant window on to Burnside creates and exhibition space for
exhibitionists, the light structure also becomes a bike-in movie theater/urban
amphitheater for sporting events and films, and the restaurant will be the brand
beacon location for Koi Fusion.
youth music project
youthmusicproject.org
KOI-fushion
Concept
2015 8th Ave. West Linn, OR | SF 12,700
Duration 15 months (Design-Build) March 2015
West Burnside | 2012
selected works
Attachment 3, Page 5 of 8
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportland
JEAN-PIERRE VEILLET
• OPB: Design, Planning and New Mayor Ted Wheeler. Jan. 2017
• Guidespark (tech company) ribbon cutting with Mayor Charlie Hales. Guest Speaker. May 2016
• Portland’s Womens League of Architecture held at Pine Street Market. Guest Speaker. June 2016
• PDX Designer Spotlight: Jean-Pierre Veillet. Live show and video documented as Episode 4. April 2016
• Pacific Northwest College of Arts. Presidential Election. Guest Speaker. June 2016
• Portland Industry Forum: Theory & Practice. Guest Speaker at Portland Art Museum. May 2016
• Renew Oregon: Climate Change Campaign Fundraiser. Host/Speaker. Oct 2015
• AIA Lecture. AIA Portland and Energy Trust of Oregon Presents: Banking on Innovation:
How we finance innovation and energy efficient building. 2013
• OPB: Think Out Loud. Apartments with no Parking. Sept. 2012
• Energy Trust of Oregon. Path to Net Zero. 2012
• Energy Trust of Oregon. EcoFlats Case Study. 2012
• Green Building Interest Group Lecture. North Williams Corridor. 2011
• AIA Cote Lecture. Ecoflats: A New Way to Live. April 2011
• AIA Lecture. Path to Net Zero. 2010
• CRE Transformer Awards (Sunshine Portland Apartments & Revant Renovation) 2018
• DJC. Top Projects & Renovations - 3rd Place 2017
• Energy Trust of Oregon. High Performance Building Award 2017
• Restore Oregon. Art Demuro Award 2016
• Commercial Association of Realtors. NAIOP, Best Retail Development 2016
• Associated Builders and Contractors. Excellence in Construction 2010
• Associated Builders and Contractors. Excellence in Construction 2008
• Wayne & Gayle Laufer
• Christopher Rupp | Rock Bridge
• Shirley Whelan | Hilton Hotels
• Sally Bany | World of Speed Museum, Moonstruck Chocolates, Youth Music Project
selected lectures/speaking appointments
awards
references
PRESS
Attachment 3, Page 6 of 8
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportland
JEAN-PIERRE VEILLET
2018
• Portland Tribune, Custom software firm Altsource moves into remodeled warehouse on inner eastside. Nov. 2018.
Portland Business Journal. Developes have a positive outlook on metro’s $652.8M affordable housing bond. Nov, 2018.
2017
• New York Times. 52 Places to go in 2017: #49 Pine Street Market, Portland, OR.
2016
• Portland Business Journal. Portland is at a crossroads on its way to becoming a true metropolis
• Oregon Business. Storyteller-in-Chief: Sculpting the City
• Portland Business Journal. Here are Oregon’s top restoration projects
• Portland Business Journal. For Jean-Pierre Veillet, creativity and culture are key to Portland’s future
• The Daily Meal. Huge Food Hall Pine Street Market Opens in Downtown Portland
• Vogue. Eating Your Way Through America’s Best Food Halls
• Portland Business Journal. Hopworks to toast its Vancouver opening on Friday
• Portland Business Journal. Apartments on the rise in Northeast Portland’s Beaumont-Wilshire neighborhood
• Oregon Business. Oregon at Work: A Multimedia Series
• Portland Business Journal. Guidespark settles into the Rose City, with plans to hire
• Portland Business Journal. Peek inside Pine Street Market, Portland’s latest culinary destination
• Oregonian. First Look: Pine Street Market downtown Portland’s new food hall.
• Brew Public. Preview of the New Hopworks Urban Brewery In Vancouver
• Bloomberg: Food Halls Around the World for Tourist
• Hollywood Star News: Bridgetown Apartments to Break Ground in Beaumont
• Portland Business Journal. Hopworks to toast its Vancouver opening on Friday
• The Daily Meal: Huge Food Hall Pine Street Market Opens in Downtown Portland
• SKIFT: Food Halls Around the World for Tourist and Locals Alike
• The Portland Mercury: Behind the Scenes at the Pine Street Market
• KATU 2 NEWS: Much anticipated Pine Street Market sets to open May 1st
• KGW NEWS: Pine Street Market Opening Up to Crowds
• EATER PDX: Pine Street Market, the Food Hall That Will Change Downtown Forever, Is Seriously Sorta Open
• The Portland Mercury: Our First Look at Pine Street Market
• Portland Business Journal: Pine Street Market leases 2 full floors to California tech company
• Food Pod Grows Up: Oregon’s first generation of food entrepreneurs created a brand based on quality and craftsmanship.
• Oregonian: The Ultimate guide to downtown Portland’s Pine Street Market
• Oregonian: Meet the latest tenants of downtown Portland’s Pine Street Market
• Oregonian: New Portland food hall, Pine Street Market, opening this year with Olympia Provisions hot dogs, Ken’s Artisan bread
• Oregonian: Portland food hall named on of America’s ‘most anticipate’
• KGW NEWS Channel 8: Pine Street Market brings new dining concept downtown
• Portland Mercury: Inside the Under-Construction Pine Street Market
• Portland Monthly Magazine: Inside Portland’s First Food Hall, Pine Street Market
SELECTED PRESS
2016 - CURRENT
Attachment 3, Page 7 of 8
contact Jean-Pierre Veillet | 971.506.2337 | jp@siteworksportland.com | linkedin.com/in/siteworksportland
JEAN-PIERRE VEILLET
2009-2015
• The New York Times: Developers Cater to Two-Wheeled Traffic in Portland, Oregon
• The New York Times: Fresh Idea From Recycle Bin
• ecoFLATS: Group Working to Connect Investors
• Sustainable Business Oregon: ecoFLATS net zero apartments nearing rent-ready
• Portland Monthly Magazine: Future Flats
• DJC Oregon: First net-zero apartment building fills up quickly
• DJC Oregon: European details inspire North Park Blocks
• Earth Techling: Portland Apartments Go Green In ecoFLATS
• Multi-Housing News: Making Net Zero Energy a Reality
• Portland Architecture: The return of Genoa
• Greenland lady: Net Zero apartment living for Everyman
• Cool Hunting: Here/Nau/NYC Pop-up Store
• PNCA UNTITLED: Always A Part of The PNCA Community
• Oregonian: Low-energy-use units coming to N. Williams
• 235 NW Park: Daily Journal of Commerce
• ISITE: Sustainable Business Oregon
• Portland Monthly Magazine: Future Flats
• Oregonian, October 25 1998, “Care & imagination create beautiful thing in small space.”
• Retail Design International, Vol 72, #1 2010, “Re-Use/Re-Claim – The Story of Hear Nau.” pages 102-106
• Retail Design International, Vol 72, #2 2010,”Keetsa.” pages 100-105′
• Trim Tab, Winter 2011, “The Path to Net Zero: Oregon’s Story.” pages 48-51.
• DJC Oregon, June 24, 2010, “Building from the Ground Up”
• DJC Oregon, ecoFLATs, June 3, 2009; ecoFLATs, June 4, 2009
• DJC Oregon, Davis Street, January 28 2009
• Green Business Quarterly, Fall 2009, Specialized Developers, Siteworks Design Build.
• Portland Business Journal, October 12 2007, Commercial Development, “Restaurant developers turn to imaginative designs.”
SELECTED PRESS
(2009-2015)
Attachment 3, Page 8 of 8
City of Springfield, Oregon – Economic Development Program
A: Designated in 2018 by Governor Brown, Springfield’s two
Opportunity Zones are located in areas of Downtown and the
Glenwood Neighborhood. While all areas of Glenwood, the
largest Zone, are within a designated ‘OZ’, only portions of
Downtown are included.
Both Springfield Opportunity Zones (shown in blue) are located
within the Springfield Community Enterprise Zone (shown in
orange), a tool supporting investments of Springfield traded-
sector manufacturers and employers in Springfield sites.
To verify if your property or project might be within a
Springfield Area Opportunity or Enterprise Zone, visit:
Business Oregon Opportunity Zone Interactive Map
A: Opportunity Zones are an economic development tool providing tax incentives to encourage those with capital gains
to invest in undercapitalized communities. By partnering with, or creating, a qualified Opportunity Fund, an investor
might realize three areas of tax benefit for investing unrealized capital gains in an OZ area designated project.
Temporary deferral of taxes on previously earned capital gains. Investors can place existing assets with
accumulated capital gains into Funds which must be active in Opportunity Zones. Those existing capital gains are
not taxed until the end of 2026 or when the asset is sold/disposed of.
Basis step-up of previously earned capital gains invested. Capital gains placed in Funds for at least 5 years,
investors’ basis on the original investment increases by 10 percent. If invested for at least 7 years, basis on the
original investment increases by 15 percent.
Permanent exclusion of taxable income on new gains. Requires investments of the Fund to remain within the
Zone area project for at least 10 years.
A: A Qualified Opportunity Fund is any investment vehicle organized as a corporation or partnership with the specific
purpose of investing in Opportunity Zone assets. The fund must hold at least 90% of its assets in a qualifying OZ property.
The period between when an investment is placed into a Fund and that Fund’s investment into a Zone asset is time
sensitive and requires the Zone project move into active development typically within the first year of investment.
Springfield Oregon has 2 Opportunity Zones
Where are our Zones and how do they work?
Q: Where are Springfield’s Opportunity Zones?
Q: What are Opportunity Zones and How Do They Work?
Q: What are Qualified Opportunity Funds?
Attachment 4, Page 1 of 2
A. Housing Development: For example – A local developer is building a multi-family rental housing complex. This
investment would qualify because the real estate is within the OZ.
A. Local Service Small Business: For example – A local wedding planner bases its operation and stores supplies and
equipment at a location within an OZ. Even though the business has clients outside the OZ, it qualifies for the OZ tax
credit because the majority of its assets are within a zone.
A. Hight Growth Start Up: For example – A small global technology startup is headquartered in a shared office space
within an OZ. The startup sells its products to customers around the world online and even has some staff abroad. But
because its management and software developers are working within the Zone and more than 50 percent of the
company’s total hourly compensation exists within the Zone, the business qualifies for the benefits of the OZ program.
A: A wide array of qualified projects can make for good Opportunity Fund investments, and preference for project
investment types can change based on preferences of the unique investors within different OZ Funds. Examples include:
Ability to invest and ‘construct’ the asset within a short timeframe. The OZ tool is intended to place inactive
capital into action quickly and in communities that, but for the Zone designations, may not be ‘usual’ investment
markets.
OZ project shows clear community vision and support. The OZ program offers a vehicle ‘leveling the field’
between the markets which are more widely known and typical of receiving investment and those which are not.
While the OZ might highlight non-typical communities as place for investment, those communities may need to
invest more in telling their story and promoting their support of the community vision and value of investment.
An OZ designation does not make a ‘bad’ project ‘good.’ Because the OZ tool is based on gains and step-ups,
ideal OZ funds are looking for projects which are feasible, bankable and profitable over time. Because Zones are
primarily located in economically depressed tracts, projects often showcase utilization of multiple economic
development tools to create profitability and positive economic impact.
A pipeline of projects exist. A series of investable opportunities exist and/or are under constant cultivation
within the community, showing future opportunities that meet both the community need and the return
expectations of potential investors.
A: The City of Springfield took a leadership stance in requesting designation and support of Springfield’s two zones.
While the OZ program focuses directly on deferment of individual capital gains, the outcome of the tool provides a
vehicle for direct investment into the local Springfield community, expanding the potential pool of future investors and
new investments with a focus on community envisioned existing projects and redevelopment and entrepreneurial goals.
Springfield’s role in supporting use of the OZ tool is to promote the community story, vision and pipeline of projects.
Q: What Makes for a Good Opportunity Fund Investment?
Springfield Oregon Opportunity Zones
Q: What is the Opportunity Zone Community Role?
Q: What Could Count as an Opportunity Zone Investment?
Attachment 4, Page 2 of 2