The developer, BPM Real Estate Group, says the construction of Riverwalk Apartments is just what the community needs right now.
Workers broke ground on the $70 million project Friday. Riverwalk Apartments will be located on Goodpasture Island Road and Alexander Loop, where shopping and dining destinations are just a walk, bike ride, or short drive away.
What makes this project so unique is the magnitude of the development. Ten buildings will cover 14 acres that include 466 apartment units, an assisted care center and a retail complex.
“We’re going to have some really good retailers in here–spas, medical providers, delis, coffee shops,” said Walter Bowen, CEO of BPM Real Estate Group.
“This is a great project, a nice fit for our community, and another sign that economic recovery is finding its traction here in Lane County,” said Dave Hauser, Eugene Area Chamber of Commerce.
The assisted care center alone will create more than 100 permanent jobs. And all phases of the construction will provide opportunities for local businesses to bid on contracts for services and materials. The developer also adds that many of the new hires will be longterm.
The project will be built in two phases over the next several years. Phase one, which has already begun, will add about 270 apartment units available for occupancy by the end of this year. The entire project is expected to be completed by 2015.