HomeMy WebLinkAboutItem 02 Downtown Development OpportunitiesAGENDA ITEM SUMMARY Meeting Date: 11/13/2023
Meeting Type: Regular Meeting
Department: CMO
Staff Contact: Allie Camp
S P R I N G F I E L D ECONOMIC Staff Phone No: 541-726-3688
DEVELOPMENT AGENCY Estimated Time: 20 Minutes
ITEM TITLE: DOWNTOWN DEVELOPMENT OPPORTUNITIES
ACTION
REQUESTED:
No action requested; for information only.
ISSUE
STATEMENT:
Representatives from Obie Companies, a local development and hospitality
company, will share their downtown development philosophy with the Springfield
Economic Development Agency (SEDA) Board.
ATTACHMENTS: 1. PowerPoint Presentation
DISCUSSION/
FINANCIAL
IMPACT:
Throughout the Northwest Obie Companies specializes in developing mixed use
destinations to add value and vitality to owners, tenants, and the surrounding
community. In the company’s past projects, the goals and outcomes have been to
increase tourism, increase commerce, revitalize land, and create pride of place.
Obie Companies sees potential in development opportunities for downtown
Springfield.
The Downtown Urban Renewal Plan’s primary defined goal is “to assist in the
revitalization of business and elimination of blight in the downtown area. Urban
Renewal is ideal for the encouragement of the type of high quality, commercial,
industrial, residential and mixed-use development that is vital to the economic
growth of the City of Springfield.”
Recently. Obie Companies and the City of Springfield entered into an Exclusive
Negotiation Agreement for due diligence on three tax lots of City-owned property
for potential future redevelopment. In this due diligence, Obie Companies has
begun to think more broadly about how to approach development opportunities for
downtown Springfield. The SEDA Board will hear more from Obie Companies as
professionals in mixed use development regarding a philosophy and opportunities
for downtown Springfield.
The SEDA Board has upcoming meeting topics scheduled which relate to
supporting the redevelopment of downtown. The Board will discuss next steps for
SEDA-owned properties on November 27, 2023 and support for plan-eligible
projects on January 8, 2024.
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Obie Companies
Executive Leadership
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5th Street Public Market
Eugene, OR -Established 1976
Project Summary
Destination marketplace with over
40 retail, food, beverage, office, co-
working and residential.
Total Square Feet: 500,000.
Total Cost Estimated: $250 million.
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“Make no little plans –they have no magic to stir men’s
blood and probably themselves will not be realized. Make
big plans; aim higher in hope and work”
–Daniel Burnham
obiecompanies.com
Attachment 1 Page 8 of 8