SPRINGFIELD, Ore. -- The Springfield Economic Development Agency heard two proposals to revitalize a portion of the Glenwood area Monday night.
Glenwood Development LLC and LOCALIS Partners each presented their vision of a piece of land along Franklin Boulevard and the Willamette River.
At the meeting, Glenwood Development LLC said they would buy the 9-acre city-owned property and build a 20-story 378 room hotel complex, an 85,000 square foot conference room and a 30,000 square foot plaza between the hotel complex and the south bank of the Willamette River. They said the total cost would be anywhere from $311 million to $340 million. Developers plan to finish the project all at once and open the property in early 2025.
LOCALIS Partners said they would expand the 9-acre city owned land to 32-acres through partnerships with two adjacent property owners who each own about 8 acres of land, and expansion of affordable housing with Homes for Good. Their design consists of multiple lower-story buildings that will also have a tech hub, retail, dining and a hotel that connects the river to Franklin Blvd. They also want to build a soccer stadium and hockey rink. The developers plan to build their proposal in three phases starting with the sports complexes and ending with housing.
The Springfield Economic Development Agency didn't decide on a proposal Monday night. They will meet again on April 26 to discuss the sale of the property and hear from the public.