$75-million 5th Street Public Market expansion project in Eugene on track to open fall 2020.
By Jim Teece
We are getting quite a few requests about the photo on the cover of the November 2019 issue. We received the photo as part of a press release package from the Obie Companies talking about retail on 5th street marketplace and we thought it was very appropriate to have as the cover for our Retail focused issue.
To find out more about the project, I went to the OBIE Companies website (https://www.obiecompanies.com/) and found out the following information.
This is the new $75-million 5th Street Public Market expansion project in Eugene that is slated to open in the fall of 2020. Groundbreaking was Feb. 14, 2019, with projected completion in fall 2020. The project comprises an 82-room boutique hotel called the Gordon; a 127-unit apartment building called the Gordon Lofts; and the 30,000-square-foot Market Building. The project is being developed by Brian Obie and his grandson, Casey Barrett, Obie Companies Vice President.
On September 19, 2019 they announced “Market Expansion On Track, Announces Anchor Tenant“
Seven months after breaking ground on a $75-million expansion to the 5th Street Public Market, CEO Brian Obie says “the project is on track for a fall 2020 opening”. The Market Expansion – downtown Eugene’s largest-ever private commercial development – sits on a half-block site just west of the 5th Street Public Market. It will be home to the Gordon Hotel, Gordon Lofts Apartments and a three-story Market Building for commercial and retail space, all connected by a 200-foot covered Market Alley.
“Tenant interest in the Market Building is strong”, Obie says. In August the company announced that Handel’s Homemade Ice Cream is moving into a corner space in the Gordon Lofts. Today Obie is announcing an anchor tenant for the prime location on the corner of 6th Avenue and Pearl Street: Nike.
Oregon’s only Fortune 100 company will occupy 6,500 square feet on the ground floor where it will be a must-see destination for visitors who come for sporting events at Autzen Stadium, Matthew Knight Arena, PK Park, Papé Field, Civic Park and of course the new Hayward Field among others. The entrance is a dramatic two-story glass atrium. The top two floors are being leased as office space, making the Market Building fully leased a year prior to opening.
5th Street Public Market to Nike: Welcome Home!
Fifty-five years after Phil Knight and legendary University of Oregon track coach Bill Bowerman launched the precursor to Nike in Eugene, Ore., the world’s largest sportswear and apparel company is returning to its roots. Nike first opened in the 5th Street Public Market in 1988. The faintest outline of the famous “swoosh” can still be seen on the doors of the third-floor suite where the store was located until opening its heritage store in May 1999 on the site where the Inn at the 5th stands now. It operated at that site until 2008.
After an 11-year absence, Nike will return to the Market District and downtown Eugene in fall 2020 – well in advance of the IAAF World Championships in 2021.
“We have always believed that Nike belonged at the 5th Street Public Market,” Obie says. “We were honored to have Nike here for 20 years and are thrilled beyond words to welcome Nike back. The Market is in Eugene’s most historic neighborhood. Nike is a huge part of Eugene’s history and vice versa. It’s a perfect fit.”
Nike is by far the single largest tenant in the Expansion project and will become the largest retailer in the Market and in downtown Eugene. Handel’s Homemade Ice Cream has signed a lease for a 2,800-square-foot corner space in the Gordon Lofts apartment building directly across the Market Alley from the Nike store. “Five other spaces are either already leased or under signed letters of intent with announcements soon to come”, according to Irene Alltucker, Obie Companies’ Director of Real Estate.
“Interest in the project remains extremely strong,” Alltucker says. “People are excited for the growth and to see the buildings take shape so quickly. We are talking to some great tenants who will add to the vibrant mix of retail, food and drink that we have at the Market currently.”
For information on leasing visit www.obiecompanies.com/leasing.
The expansion will include the following:
A new Nike store will anchor the three-story retail and office building on the corner of 6th Avenue and Pearl Street. The building opens up onto the Market Alley, a 200-foot-long covered promenade that connects the Gordon Hotel to Pearl Street and over to the existing 5th Street Public Market.
Each floor is approximately 10,000 square feet. The entrance to Nike will be a grand two-story atrium. A coffee shop or café is envisioned for adjacent space along the Market Alley. The top two floors are leased for office space.
The design is reminiscent of an early 20th-century warehouse building and harkens back to when the 5th Street Public Market area was Eugene’s industrial center, home to manufacturers and similar businesses.
A seven-story, 127-unit apartment building, the Gordon Lofts, sits on the north side of the Market Alley. The ground floor is dedicated retail space. A 1,500-square-foot fitness center is on the second floor. A rooftop garden overlooks Pearl Street and offers a view of the city. Fully furnished second-floor apartments that are available for 30-day or longer rental overlook the Market Alley.
The market-rate apartments will average 750 square feet and will consist of 69 studios, 53 one-bedrooms and five two-bedroom units. The building will connect to the Gordon Hotel by a skybridge to the west. The building’s design and finishes complement the Inn at the 5th across the street, helping to tie the two blocks together.
A seven-story 82-room boutique hotel sits on the corner of 6th Avenue and Oak Street, kitty corner from the Eugene Conference Center. The Gordon Hotel is named in honor of Gordon Obie, Brian Obie’s late father. Gordon Obie (1917-2013) was a successful businessman who got his start in sign painting and was interested in the arts throughout his life. Some of Gordon’s paintings depicting Eugene’s history will be on display throughout the buildings, along with the work of other local artists.
The exterior has an urban, slightly grittier feel. The ground floor features 4,000 square feet for a restaurant or pub, with the second floor devoted to meeting space and a rooftop garden and bar on the top. A distinctive sign of historic character tops the hotel, establishing it as part of a fun and vibrant downtown.
About Obie Companies
Obie Companies today can trace its roots to a number of successful local businesses that have one thing in common: Brian Obie.
Work in sales for his father’s sign company brought Obie to Eugene in the 1960s. In 1976 Obie became a founding partner and investor in the 5th Street Public Market in downtown Eugene, acquiring sole ownership in 1985.
Also in 1976 Obie was a founding director and chairman of what would become Centennial Bank. After it became publicly traded, Centennial was merged into Umpqua Bank, which today is Oregon’s largest state-chartered bank.
In 1987 Brian Obie founded Obie Media Corporation. By the time it went public and was listed on the NASDAQ stock exchange in 1996, Obie Media had 32 offices throughout the United States and Canada.
A strong business leader, Obie has been a strong community and civic leader as well. Beginning in 1970 he served variously on the Eugene Planning Commission and Eugene City Council, culminating in a term as mayor from 1985 to 1988. During his two terms as a University of Oregon Foundation trustee he served as president, and also was president of the Oregon Chapter of the Young Presidents’ Organization.
Obie’s grandson Casey Obie Barrett joined Obie Media in 2002, while he was still in high school. Today he is vice president of Obie Companies and leads many of the operating and development activities. The two have shared the experience and adventure of expanding the business. With offices just across the hall from one another, they collaborate throughout the day. Obie credits his grandson for doing the heavy lifting and providing excitement about the future.
Obie Companies today comprises the 5th Street Public Market and two hotels, and the company is growing.
- The Market has continued to grow and expand its offerings in food, shopping, and offices. A Eugene icon, it is the area’s number one visitor destination.
- As part of its vision to expand the 5th Street Public Market and establish a greater Market District, Obie acquired three properties to the north and west of the Market: Station Square, the 5th and Pearl building, and a corner lot that is home to the David Minor Theater and the old Vitus building. Eventually, these properties will be incorporated into the 5th Street Public Market to extend its vibrancy and success and to create more opportunities for retailers, visitors, and shoppers.
- In 2012 Obie built its first hotel, the Inn at the 5th, a very special boutique hotel in the Market. The Inn is a separate company owned by a large group of primarily local investors. The hotel has been a great addition to the Market, creating synergies between guests, locals, and retailers. It has an enviable occupancy rate, and in recent years has landed among TripAdvisor’s top 25 hotels in the country.
- The success of the Inn at the 5th in Eugene prompted Obie to expand its vision and build a 110-room boutique hotel in Boise, Idaho. The Inn at 500 Capitol opened in 2016. This $29 million project has proven equally successful and has led the company to plan future hotels in other western markets.
You can follow along on the progress of the construction and transformation of the Market District by visiting https://www.obiecompanies.com/expansionprogress
Click on the photo to see a live camera update of construction.