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<br />ECC <br />UGENE ITY OUNCIL <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br /> <br />Work Session: Core Campus – Application for Multiple-Unit Property Tax <br />Exemption for Residential Property Located at 505 East Broadway <br />(The Hub in Eugene) <br /> <br />Meeting Date: May 29, 2013 Agenda Item: B <br />Department: Planning and Development Staff Contact: Amanda Nobel <br />www.eugene-or.gov Contact Telephone Number: 541-682-5535 <br /> <br /> <br /> <br />ISSUE STATEMENT <br />The work session will be an opportunity for the council to hear about and discuss the Core <br />Campus proposal to build student housing at 505 East Broadway (see Attachment A). <br /> <br /> <br />BACKGROUND <br />In January, the City of Eugene received a Multi-Unit Property Tax Exemption (MUPTE) application <br />from Core Campus for a proposed student housing development (The Hub in Eugene) on East <br />Broadway and Ferry Street. <br /> <br />The council is currently discussing potential revisions to the MUPTE program and enacted a <br />temporary suspension of the program in February 2013. Since the Core Campus application was <br />submitted prior to the suspension, the existing program rules have been applied to this review. <br /> <br />Project Overview <br />The Hub in Eugene would be a 12-story, $44 million project: 197 apartments with on-site parking, <br />nearby parking, and commercial retail space. The site, which was a former Chevron service <br />station, has been vacant for eight years and is a brownfield site. Directly to the west is a <br />Korean/Japanese restaurant (formerly a Dunkin Donuts). To the east is a Pizza Hut. Due north is <br />a storage facility, and south, across Broadway, are eating establishments (including Burrito Boy) <br />and offices. <br /> <br />The project will have 501 bedrooms; 4,430 square feet of retail space; 34 on-site parking spaces; <br />and 88 surface parking spaces in a nearby lot. The building would be designed to achieve LEED <br />certification and would include a green roof among other features. The first-floor commercial <br />spaces, sales center, and lobby, will have a clear floor-to-ceiling glass storefront. The commercial <br />space would front East Broadway. <br /> <br /> S:\CMO\2013 Council Agendas\M130529\S130529B.doc <br />